President Donald Trump has chosen Brian Quintenz as the next chairman of the Commodity Futures Trading Commission (CFTC), according to Bloomberg News. Quintenz, who currently leads crypto policy at venture capital giant Andreessen Horowitz (a16z), is well-known for his strong support of the cryptocurrency industry.
Quintenz, a former CFTC commissioner, played a key role in shaping blockchain and crypto policies. His appointment could expand the CFTC’s role in regulating digital assets, an area traditionally overseen by the stricter SEC.
Trump is also stirring up a fuss with other financial appointments. Jonathan Gould, a partner at Jones Day, was selected to be Comptroller of the Currency, which monitors national banks.
At the same time, Jonathan McKernan, who left his position with the Federal Deposit Insurance Corp. (FDIC) earlier this month, will take the helm at the Consumer Financial Protection Bureau (CFPB). Senate Democrats will likely scrutinize both appointments.
Caroline Pham, the acting CFTC chair, welcomed Quintenz’s nomination, saying he would be a champion for responsible financial innovation. But the White House has not made an official statement.
If confirmed, Quintenz could be key to the future of crypto regulation in the U.S., laying the groundwork to make the CFTC the industry’s primary regulatory body.
