Blockchain Association appoints crypto-expert CFTC commissioner as new CEO before midterm deadline approaches

The Blockchain Association has appointed CFTC Commissioner Summer Mersinger as its new CEO, taking over from Kristin Smith, who departed on Friday to join the Solana Policy Institute.

“We have a very limited timeframe to push legislation through,” board member Belcher stated.

When searching for a new CEO, the Blockchain Association, a leading voice in crypto lobbying, prioritized candidates with strong connections in Washington and extensive knowledge of the cryptocurrency landscape.

The urgency of this search couldn’t be overstated.

“Our legislative window is quite narrow,” Marta Belcher from the Blockchain Association conveyed to DL News. “With midterm elections approaching next year, it seems likely that this window will close then.”

Earlier this week, the organization announced its selection of Summer Mersinger, a commissioner of the Commodity Futures Trading Commission, to succeed Kristin Smith.

“Commissioner Mersinger possesses outstanding leadership skills at the crossroads of innovation, law, and public service, stepping into her new role at a crucial time for our industry,” the Blockchain Association remarked in its statement regarding her appointment.

“Her proven ability to foster regulatory clarity and build partnerships across both government and industry will be vital in advancing progressive legislation, promoting industry development, and upholding the core tenets of decentralized technology.”

Proven Experience

Prior to her CFTC role, Mersinger was a senior aide to Senator John Thune, a Republican hailing from South Dakota, who currently serves as the Senate majority leader.

“It has been an honor to contribute at the CFTC during both the initial and current Trump Administrations, helping to further the President’s crucial policies,” Mersinger noted in a statement after announcing her departure.

The Blockchain Association stands as one of the foremost crypto lobbying entities in Washington, boasting nearly 130 members, as stated by Belcher.

It is entering what may be the most critical phase in the history of crypto legislation.

President Donald Trump has positioned himself as a proponent of cryptocurrency. Following a series of executive orders, the spotlight has shifted to Congress, where significant discussions are underway regarding stablecoin legislation in the Senate and a market structure bill in the House aimed at establishing a framework for digital asset regulation.

Belcher characterized this legislation as “existential” for the crypto industry.

The successful passage of this legislation will necessitate collaboration across the industry’s diverse participants.

“It was crucial for us to appoint a permanent CEO swiftly, which guided our expedited search process,” Belcher explained.

Instead of employing a search firm to identify candidates, the Blockchain Association chose to manage the entire process internally.

“We required someone well-versed in crypto and knowledgeable about the field,” Belcher expressed. “We conducted a thorough yet swift interviewing process.”

Belcher highlighted Mersinger’s dissent in the Ooki DAO case as indicative of her credentials in the crypto space.

Principles of Cryptocurrency

In 2022, the CFTC filed a lawsuit against Ooki DAO, contending that it operated as an unregistered commodities trading platform and neglected to enforce necessary know-your-customer and anti-money laundering measures.

The crypto community rallied to defend Ooki DAO, with prominent venture capital firms Paradigm and Andreessen Horowitz, the DeFi Education Fund lobbying group, and an association of crypto attorneys known as LeXpunK filing a joint appeal in support of Ooki.

In 2023, a federal judge ruled in favor of the CFTC after Ooki DAO failed to present a defense in court.

In her dissent, Mersinger recognized that Ooki may have contravened the Commodities Exchange Act, but she questioned the CFTC’s attempt to hold every cooperative member accountable—every individual who possessed an Ooki DAO token and used it to participate in the project’s governance.

“This is one instance that illustrates her alignment with the fundamental values of crypto,” Belcher noted.

Mersinger begins her role as CEO on June 2, with Sarah Milby, the Blockchain Association’s head of policy, stepping in as interim CEO.

“This is a pivotal time for crypto policy, and I believe Commissioner Mersinger is the ideal leader to guide us forward,” Belcher asserted.

Aleks Gilbert serves as DL News’ correspondent focusing on DeFi from New York. Reach out to him at aleks@dlnews.com.

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