President Donald Trump has nominated four candidates to fill vacancies at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), in the first round of commissioner nominations in a year. The candidates are Steven Levine and Kristin Johnson to the SEC, and Nathan Anonick and Matthew Rowland to the CFTC.

The White House announced the appointments on November 12, proposing two candidates for each of the two financial regulators. Levine and Johnson were nominated for seats at the SEC, while Anonick and Rowland received the nominations as commissioners of the CFTC. The four candidates now require confirmation by the Senate before they can join the agencies that regulate the US financial markets and transactions related to cryptocurrencies.

The nominations arrive at a time when both organizations lack leadership after a series of departures and expirations of terms. The SEC currently has Chairman Paul Atkins and Commissioner Mark Uyeda as the only members of what is conceived as a five-member commission. The CFTC finds itself in a similar situation, with Michael Selig as its sole commissioner amid four vacancies within the agency. Federal law limits the partisan composition of both commissions to three members from the same political party, and the current slate pairs one Republican and one Democrat at each agency. If confirmed, the slate would add two representatives at each agency and expand participation in their decision-making.

Steven Levine Nominated to Replace Hester Peirce

Levine, a Republican, was nominated to occupy the SEC seat vacated by Hester Peirce, who left the position in October. The term associated with the seat extends until June 5, 2030.

Peirce was one of the most well-known regulators focused on cryptocurrencies at the SEC during her tenure as commissioner. She also chaired the agency's Crypto Task Force, which developed regulatory solutions for digital assets and worked to address the ambiguity related to cryptocurrency business operations. With the departure of the commissioner, an important gap remains at the agency as it continues reviewing the application of securities regulations to digital asset activities in the United States.

The slate of candidates quickly drew the attention of cryptocurrency policy observers on X.

Trump nominates Kristin Johnson and Steven Levine to the SEC, Nathan Anonick and Matthew Rowland to the CFTC, first commissioner picks in over a year — unfolded. (@cryptounfolded) November 12, 2026

Levine also brings government experience as an advisor in the office of SEC Commissioner Mark Uyeda and at the White House Council of Economic Advisers. However, his position on cryptocurrency regulation is not as publicly known as that of his predecessor. As a result, Levine's confirmation could introduce a different perspective into the ongoing discussion at the SEC on digital asset policy.

Trump also nominated Democrat Kristin Johnson for the SEC seat previously occupied by Caroline Crenshaw, who completed her term. Johnson's term would extend until June 5, 2029. Johnson previously served as a commissioner at the CFTC, where she supported consumer protection measures and conflict-of-interest requirements for cryptocurrency companies. That background means the SEC slate includes a candidate who has already served within the CFTC, the agency currently developing its own cryptocurrency regulatory framework.

The Candidates to the CFTC Include Veterans of the CLARITY Act

Nathan Anonick and Matthew Rowland were nominated by Trump as the Republican and Democratic candidates, respectively, for the two commissioner positions at the CFTC. Both candidates have experience handling the CLARITY Act, legislation aimed at creating clarity regarding the regulatory responsibilities of federal agencies in overseeing digital assets and the cryptocurrency market. The measure seeks to delineate more clearly the jurisdictions of agencies such as the SEC and the CFTC over the digital asset space. That division reflects how oversight of the US market is organized: the SEC regulates securities markets, while the CFTC supervises futures and derivatives markets, and defining where digital assets fall between both mandates has been a central question in cryptocurrency policy in the United States.

Anonick has experience collaborating with Republican staff of the Senate Agriculture Committee, the same body that would review the CFTC candidates and holds jurisdiction over the agency. Rowland is an attorney working in relation to the CFTC who has collaborated with the committee. Their legislative backgrounds could prove important as Congress moves to consider the allocation of responsibilities in cryptocurrency regulation between the SEC and the CFTC.

The chairman of the CFTC, Michael Selig, welcomed the nominations, describing the two candidates as excellent bipartisan selections and promising to collaborate with them after their confirmation. If approved, the nominations would add two more representatives to an agency currently operating with only a chairman.

Selig shared his reaction publicly on X.

. @POTUS made two strong bipartisan picks for @CFTC Commissioners with Nathan Anonick and Matthew Rowland. I congratulate them on their nominations and look forward to working with each of them upon their confirmation by the US Senate. — Mike Selig (@ChairmanSelig) November 12, 2026

The CFTC Cryptocurrency Regulatory Framework Adds Context

The nominations arrive while the CFTC is advancing work on a broader cryptocurrency regulatory framework. On October 5, 2026, the agency published an Advanced Notice of Proposed Rulemaking (ANPRM) seeking public comments on the regulation of cryptocurrency asset transactions and the establishment of specific requirements for the related markets. The notice invites interested parties to weigh in on how cryptocurrency asset transactions should be regulated and what requirements should apply to the related markets.

The SEC and CFTC Commissioners Await Senate Approval

The four candidates must go through the Senate confirmation process before taking office. The SEC candidates are expected to be questioned by the Senate Banking Committee, while the candidates for the CFTC commissioner positions will be reviewed by the Senate Agriculture Committee. After the committee stage, the entire Senate will decide whether to confirm the candidates through a vote. Only after completing those steps can the candidates formally take office.

Timing is considerably important in this process. The Democrats are expected to take control of the Senate starting in January 2027, after the midterm elections scheduled for November. That leaves Republicans with only a limited window to confirm Trump's nominations during the current session.

The eventual composition of the SEC and CFTC is likely to be relevant for the capacity of the agencies to make decisions and develop policies through greater participation by the commissioners. The nominations are significant not only for companies working with cryptocurrencies, but also for investors, financial institutions, cryptocurrency exchanges and digital asset platforms, and other corporations operating in the US financial markets.

That said, the nominations are not expected to result in immediate changes to cryptocurrency regulations. Changes will only be possible if the Senate confirms the nominations and, moreover, if the candidates hold specific policy positions. The upcoming milestones include committee hearings, confirmation votes, and the continued development of the CFTC's cryptocurrency regulation proposal.