Former Commodity Futures Buying and selling Fee (CFTC) Commissioner Brian Quintenz has been chosen by former President Donald Trump to go the federal commodities regulator. Quintenz, who beforehand served on the CFTC from 2017 to 2021, is at present the pinnacle of coverage at Andreessen Horowitz’s (a16z) crypto division. His nomination marks a notable growth in U.S. crypto coverage, significantly because the CFTC stands to achieve extra authority over digital asset markets.
Quintenz’s tenure on the CFTC was marked by his advocacy for trade self-regulation and technology-driven oversight. Throughout his time as commissioner, he chaired the Expertise Advisory Committee and performed a job in shaping the company’s early regulatory stance on Bitcoin and Ethereum futures. Since leaving the company, he has labored with a16z, advising on crypto coverage and investments. His efforts contributed to a16z’s involvement with Fairshake, a political motion committee centered on crypto-related coverage, which reportedly invested practically $140 million into the 2024 elections.
The choice was first reported by Punchbowl News and later confirmed by Coindesk. The White Home has not but issued an official assertion on the nomination, although performing CFTC Chair Caroline Pham, cited by Crypto Briefing, publicly supported Quintenz, stating, “I congratulate my pal Brian Quintenz on his choice for CFTC Chairman. I labored with Brian on necessary initiatives that he led to success when he was a CFTC Commissioner. He’ll do the identical for crypto and innovation. I sit up for supporting Brian and his management on the CFTC.”
Trade and Legislative Reactions
The crypto trade has responded positively to Quintenz’s nomination. Miller Whitehouse-Levine, CEO of the DeFi Training Fund, emphasised Quintenz’s longstanding dedication to decentralized finance (DeFi), stating, “Brian has an extended observe file of supporting DeFi and advocating for sound insurance policies that may allow DeFi builders and customers to thrive in america.”
His return to the CFTC comes at a time when lawmakers are contemplating increasing the company’s function in overseeing the crypto trade. The Monetary Innovation and Expertise for the twenty first Century Act, which handed within the Home final yr however stalled within the Senate, aimed to reinforce the CFTC’s regulatory authority over digital property. Former CFTC Chair Rostin Behnam had beforehand pushed for the company to have extra oversight of cryptocurrency markets, together with spot Bitcoin transactions.
Broader Monetary Regulatory Overhaul
Quintenz’s nomination is an element of a bigger effort by Trump and his allies to reshape monetary regulation within the U.S. Alongside his choice, the White Home has additionally put ahead Jonathan McKernan as the brand new head of the Shopper Monetary Safety Bureau (CFPB) and Jonathan Gould because the Comptroller of the Foreign money. The nominations replicate a broader technique to shift regulatory oversight away from Biden-era insurance policies, which critics have argued imposed extreme restrictions on monetary establishments.
Regardless of the trade help for Quintenz, Trump’s general regulatory method has sparked opposition. Senator Elizabeth Warren has criticized the administration’s efforts to curb the CFPB’s affect, arguing that “the query is just not who the nominee is… the query is whether or not co-presidents Elon Musk and Donald Trump will let the CFPB proceed its work because the cop on the monetary beat or will they hold making an attempt to illegally shut down the company and let Wall Road cheat American households.”
Johnny Ok.
