Trump nominates bipartisan candidates to SEC and CFTC, Senate to review picks this month

US President Donald Trump has submitted four bipartisan nominations to the Senate for positions at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the federal agency overseeing derivatives markets. This marks the administration’s first instance of naming Democratic and Republican candidates for these financial regulatory bodies.

Breakdown of SEC and CFTC Nominations

Trump’s nominations include two individuals from each major political party. For the SEC, Kristin N. Johnson, a Democrat from Michigan, has been selected to replace Caroline Crenshaw, with a term extending to June 5, 2029. Johnson recently served as a CFTC commissioner, and in 2023, she advocated for the regulation of decentralized finance (DeFi) platforms operating as intermediaries, arguing that such platforms fall within a regulatory framework.

In a prior statement regarding DeFi, Kristin N. Johnson asserted, “In my opinion, they can and should be regulated.”

Steven Levine, a Republican from Maryland, is nominated to take the place of Hester Peirce at the SEC, with his potential term running until June 5, 2030. Levine’s most recent position was as general counsel and senior adviser at the White House Council of Economic Advisers. Before that, he held roles at the SEC, where Mark Uyeda appointed him deputy chief of staff in February 2025. No official public position on cryptocurrency from Levine has been identified to date.

Both current SEC commissioners are Chairman Paul Atkins and Commissioner Mark Uyeda. The addition of Johnson and Levine, if confirmed, would bring the agency closer to full capacity.

Mini dictionary: Commodity Futures Trading Commission (CFTC) is the US federal regulatory agency responsible for overseeing futures and options markets as well as certain aspects of cryptocurrency trading. It plays a key role in shaping policy and enforcement over derivatives and digital assets in the United States.

CFTC Nominees and Committee Involvement

The two CFTC nominees have backgrounds in the Senate Agriculture Committee, which shares oversight of crypto market structure legislation. Nathan Anonick, a Republican from Virginia, is a legislative counsel for Committee Chairman John Boozman. He played a part in negotiations on the Clarity Act, legislation aimed at defining rules for US crypto markets, and would serve until June 19, 2031.

Matthew Rowland, a Democrat from Washington, D.C., currently serves as a CFTC attorney on detail to the Senate Agriculture Committee, under the committee’s Democratic leadership. Rowland contributed to the Clarity Act as well as the committee’s 2024 crypto bill, according to Eleanor Terrett of Crypto in America. His term would extend until April 13, 2028. Both Anonick and Rowland have not expressed public positions on cryptocurrency policy.

The bipartisan nature of these nominations, as observed by analysts, could accelerate the Senate’s review process even as the legislative calendar winds down.

The CFTC is presently led by Chairman Mike Selig, who currently manages the agency without other commissioners. Should all nominations succeed, the SEC would fill four of its five seats, and the CFTC would have three commissioners in place.

Senate Timeline and Committee Process

The Senate Banking Committee is responsible for advancing the SEC nominees, while the Agriculture Committee oversees the CFTC picks. The window for confirmations is narrow, as Democrats gained Senate control on November 3 and are scheduled to assume leadership in January. According to Punchbowl News, Senate Republican leaders have planned for committee clearance of all nominees by November 20 to allow for group approval before the end of the session. Some legislative observers, including Eleanor Terrett, noted that bipartisan cooperation may prompt Senate leaders to expedite confirmations in light of the current political transition.

If confirmed, these appointments are likely to shape the regulatory approach toward cryptocurrencies and derivatives markets at both agencies ahead of a new Congressional session.