5.4 C
Manchester
February 12, 2025
Image default
News

Trump Reportedly Eyes a16z’s Brian Quintenz For CFTC Chair


Former Commodity Futures Trading Commission (CFTC) commissioner Brian Quintenz is reportedly being considered by US President Donald Trump to lead the agency once again.

Currently serving as head of policy at Andreessen Horowitz’s (a16z) crypto division, Quintenz’s selection signals a potential shift toward a more pro-crypto regulatory stance.

According to a 12 February 2025 report from Bloomberg, a document sent from the White House to Capitol Hill indicates that Trump intends to nominate Quintenz as the next CFTC chair.

EXPLORE: 15 New & Upcoming Coinbase Listings to Watch in 2025

Quintenz May Push for CFTC to Lead Crypto Regulation

If confirmed, Quintenz is expected to advocate for crypto-friendly policies, potentially positioning the CFTC as the primary regulator for the digital asset industry—challenging the Securities and Exchange Commission (SEC) under Chair Gary Gensler.

The document also details other key financial regulatory appointments, including Jonathan Gould, a partner at Jones Day, who has been nominated as Comptroller of the Currency, overseeing U.S. national banks.

Furthermore, it names Jonathan McKernan, who resigned from the Federal Deposit Insurance Corporation (FDIC) on February 11, as the new permanent head of the Consumer Financial Protection Bureau (CFPB).

Quintenz previously served as a Republican commissioner at the CFTC from 2016 to 2020, during Trump’s first term. Throughout his tenure, he strongly supported the integration of crypto derivatives and digital asset products into U.S. regulatory frameworks.

In March 2024, Quintenz publicly criticized the SEC over its inconsistent stance on Ether (ETH). He argued that the agency had already acknowledged ETH as a non-security when it approved Ether futures exchange-traded funds (ETFs) in October 2023.

He claimed that if the SEC had doubts about ETH’s regulatory classification, it would not have approved ETH futures ETFs and that CFTC-listed futures on ETH would be considered illegal if the asset were classified as a security.

EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025

A16z’s Role in Crypto Regulation

Since leaving the CFTC, Quintenz has played a major role in shaping crypto policy at a16z, one of the largest venture capital firms in the digital asset space. The firm has backed major crypto projects, including Solana, Avalanche, Aptos, EigenLayer, Lido, OpenSea, Coinbase, and Maker (now Sky).

Following regulatory shifts under the Trump administration, a16z stated in November 2024 that it expectsgreater flexibility to experimentin the crypto sector.

Last year, Trump nominated former Securities and Exchange Commission Commissioner Paul Atkins, a crypto advocate, to chair the agency. Industry leaders hope Atkins’ leadership will bring a more favorable regulatory environment for digital assets.

Trump has been critical of Gensler’s policies, promising during his campaign to fire him “on day one.” However, Gensler pre-empted this move by announcing his resignation, effective January.

EXPLORE: Best New Cryptocurrencies to Invest in 2025

The post Trump Reportedly Eyes a16z’s Brian Quintenz For CFTC Chair appeared first on 99Bitcoins.





Source link

Related posts

Coinbase Demands SEC to Conduct Thorough Document Search in ETH 2.0 Investigation

Canadian National Charged In $65 Million DeFi Exploit And Money Laundering Case

CoinDCX Initiates Crypto Awareness With Bitcoin Chai Cafe In Mumbai

Leave a Comment