President Donald Trump has chosen Brian Quintenz as the subsequent chairman of the Commodity Futures Buying and selling Fee (CFTC), in line with Bloomberg Information. Quintenz, who at present leads crypto coverage at enterprise capital large Andreessen Horowitz (a16z), is well-known for his robust assist of the cryptocurrency trade.
Quintenz, a former CFTC commissioner, performed a key function in shaping blockchain and crypto insurance policies. His appointment might develop the CFTC’s function in regulating digital property, an space historically overseen by the stricter SEC.
Trump can be stirring up a fuss with different monetary appointments. Jonathan Gould, a companion at Jones Day, was chosen to be Comptroller of the Forex, which screens nationwide banks.
On the identical time, Jonathan McKernan, who left his place with the Federal Deposit Insurance coverage Corp. (FDIC) earlier this month, will take the helm on the Shopper Monetary Safety Bureau (CFPB). Senate Democrats will probably scrutinize each appointments.
Caroline Pham, the performing CFTC chair, welcomed Quintenz’s nomination, saying he can be a champion for accountable monetary innovation. However the White Home has not made an official assertion.
If confirmed, Quintenz might be key to the longer term of crypto regulation within the U.S., laying the groundwork to make the CFTC the trade’s major regulatory physique.
Additionally Learn: CFTC Plans CEO Forum for Crypto Pilot Program
