Donald Trump has reportedly chosen Brian Quintenz, the present Head of Coverage at a16z Crypto, to guide the Commodity Futures Buying and selling Fee (CFTC), Fox Enterprise journalist Eleanor Terret reported on Feb. 12.
If confirmed, Quintenz will exchange performing Chair Caroline Pham.
Who’s Quintenz?
Quintenz, who served as a CFTC commissioner from 2017 to 2021, performed a key position in advancing technological oversight on the company. He chaired the Expertise 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 significant crypto-focused enterprise capital agency and was a significant monetary drive within the 2024 election, contributing $47 million to Fairshake and different political organizations.
His nomination alerts Trump’s broader intention to redefine monetary regulation, notably within the crypto and derivatives markets.
Ought to Congress move market construction laws granting extra authority to the CFTC, Quintenz can be answerable for drafting interpretive guidelines that form how the company enforces these new rules.
Notably, the crypto business has lengthy advocated for CFTC oversight, arguing that it might provide a extra innovation-friendly regulatory method than the US Securities and Trade 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 means to guide the company.
Crypto legal professional Jeremy Hogan emphasised that the CFTC Chair might change into extra influential in crypto regulation than the SEC’s management and referred to as Quintenz a robust alternative for the Fee.
Hogan stated:
“The top of the CFTC will, ultimately, seemingly be extra vital to the crypto house than the top of the SEC. And Brian Quintez is a stable ‘A!’”
In the meantime, finance lawyer Scott Johnsson highlighted Quintenz’s position in launching CME Bitcoin Futures, which paved the best way for Spot Bitcoin ETFs. In line with him, this reinforces confidence in his means to information the company successfully.
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