Donald Trump has reportedly chosen Brian Quintenz, the present Head of Coverage at a16z Crypto, to steer the Commodity Futures Buying and selling Fee (CFTC), Fox Enterprise journalist Eleanor Terret reported on Feb. 12.
If confirmed, Quintenz will substitute performing Chair Caroline Pham.
Who’s Quintenz?
Quintenz, who served as a CFTC commissioner from 2017 to 2021, performed a key function in advancing technological oversight on the company. He chaired the Know-how Advisory Committee and supported the thought of a self-regulatory physique for the crypto sector.
After leaving the Fee, he joined a16z Crypto, the place he has been instrumental in shaping coverage methods. Notably, a16z is a serious crypto-focused enterprise capital agency and was a serious monetary pressure within the 2024 election, contributing $47 million to Fairshake and different political organizations.
His nomination indicators Trump’s broader intention to redefine monetary regulation, notably within the crypto and derivatives markets.
Ought to Congress cross market construction laws granting extra authority to the CFTC, Quintenz will likely be liable for drafting interpretive guidelines that form how the company enforces these new laws.
Notably, the crypto business has lengthy advocated for CFTC oversight, arguing that it will provide a extra innovation-friendly regulatory strategy than the US Securities and Alternate Fee (SEC).
Trade response
Though the White Home has but to formally announce Quintenz’s nomination, key business figures have already endorsed it.
Coinbase CEO Brian Armstrong and different crypto leaders have welcomed the choice and expressed confidence in his capacity to steer the company.
Crypto lawyer Jeremy Hogan emphasised that the CFTC Chair might develop into extra influential in crypto regulation than the SEC’s management and known as Quintenz a robust selection for the Fee.
Hogan mentioned:
“The pinnacle of the CFTC will, finally, seemingly be extra vital to the crypto house than the pinnacle of the SEC. And Brian Quintez is a stable ‘A!’”
In the meantime, finance lawyer Scott Johnsson highlighted Quintenz’s function in launching CME Bitcoin Futures, which paved the way in which for Spot Bitcoin ETFs. In keeping with him, this reinforces confidence in his capacity to information the company successfully.
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