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 change 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 Expertise Advisory Committee and supported the concept 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 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, significantly within the crypto and derivatives markets.
Ought to Congress go market construction laws granting extra authority to the CFTC, Quintenz will probably be chargeable 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 could supply 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 capability to steer the company.
Crypto legal professional Jeremy Hogan emphasised that the CFTC Chair might turn out to be extra influential in crypto regulation than the SEC’s management and known as Quintenz a robust selection for the Fee.
Hogan stated:
“The pinnacle of the CFTC will, finally, doubtless be extra necessary to the crypto area than the top 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 best way for Spot Bitcoin ETFs. Based on him, this reinforces confidence in his capability to information the company successfully.