The White House has formally submitted President Joe Biden’s nomination to fill two seats on the Commodity Futures Trading Commission, and another commissioner is leaving.

In Friday’s announcement, the White House Say It has sent the names of Citi managing directors Caroline Pham and Summer Mersinger to the Senate for confirmation. Mersinger previously served as chief of staff to Commissioner Dawn Stump — who is expected to leave the agency this year — and director of the Office of Legislative and Intergovernmental Affairs. She and Fan will succeed recently-outgoing Commissioner Dan Berkovitz, whose term expires in April 2023, while Stump’s term expires in April 2027.

The CFTC nomination comes the same week the White House officially announced its nomination Send Jerome Powell’s nomination and Lael Brainard head to the Senate for confirmation, then serve as the Fed’s next chairman and vice-chair, respectively. Senate confirmation would allow Powell and Brainard to serve as the top two Fed leaders until 2026. On Tuesday, President Biden also submitted the names of Christie Goldsmith Romero and Kristin Johnson to fill the remaining vacant seats on the CFTC.

With the nomination of four CFTC commissioners — pending confirmation by U.S. lawmakers — there will be no more vacancies at the agency in 2022 following a leadership shakeup.Berkowitz announced in September that he was Plan to leave the CFTC Joined the SEC on October 15 as General Counsel and serves on the Senate Confirmation of Rostin Behnam’s nomination Served as CFTC Chair in December.

Currently, Democrats under President Joe Biden control 50 of the 100 Senate seats, and Vice President Kamala Harris could act as a tiebreaker if needed. A simple majority vote is required to confirm the President’s choice of the CFTC.

While the White House has proposed four names for CFTC commissioners, it has yet to formally nominate a candidate to fill the Fed’s looming vacancy.Member of the board Randall Quarles resigns Effective from the end of December 2021, the current vice-chairman Richard Clarida is expected to step down in February 2022.The Washington Post reported Wednesday recommended to the President of the United States In addition to economists Lisa Cook and Philip Jefferson, Duke law professor Sarah Bloom Ruskin is considering joining the seven governors serving at the Fed.

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Biden may also have an opportunity to reshuffle the leadership of the Securities and Exchange Commission, another U.S. government agency responsible for digital asset regulation. SEC Commissioner Elad Roisman is expected to leave the agency at the end of January, while Commissioner Allison Lee’s term expires in June. Some experts have pointed out that the placement of different financial experts in the three major U.S. government agencies could have implications for cryptocurrency-related policies.