Because the Donald Trump administration seems to nominate the US Commodity Futures Buying and selling Fee (CFTC) chairman, a16z Crypto coverage lead Brian Quintenz emerged as the highest contender. In response to sources conversant in the matter, the Trump staff has just lately interviewed Quintenz for the highest job at US CFTC.
Brian Quintenz Is the High Selection for US CFTC Chair
As per a Bloomberg report, former Republican CFTC Commissioner Brian Quintenz was interviewed for the highest place within the regulatory physique. He’s at the moment main the crypto coverage division on the digital asset wing of VC big Andreessen Horowitz, a16z Crypto.
President-elect Donald Trump’s staff has been actively conducting interviews for the US CFTC chair place, with an announcement doubtless within the coming days. Republican CFTC Commissioners Summer time Mersinger and Caroline Pham have additionally been within the race for a similar. Final month, studies steered that Crypto Dad Chris Giancarlo could possibly be the highest boss at CFTC, nonetheless, he dispelled the rumors.
If chosen to steer CFTC, Brian Quintenz might deliver a brand new perspective that bridges conventional finance (TradFi) and digital property. Throughout his earlier tenure as CFTC Commissioner beneath the Donald Trump administration, Quintenz advocated for the company to embrace revolutionary monetary companies, that included crypto derivatives and occasion contracts. In a crypto weblog final month, co-authored with a16z, Quintenz shared his perspective on the election’s implications for the way forward for crypto. He wrote:
“Whereas we’ll doubtless have better flexibility to experiment, we will’t overlook that the basic regulatory rules relevant to blockchain programs stay unchanged. There’ll nonetheless be legitimate scrutiny from regulators and policymakers of sure elements of the business no matter progress on new laws or a re-calibrated regulatory atmosphere”.
Since becoming a member of enterprise capital agency Andreessen Horowitz (a16z), Quintenz has continued championing progressive regulatory approaches for these industries. Quintenz’s intensive expertise positions him to navigate the company by means of vital coverage adjustments beneath the Biden administration.
Moreover, current studies counsel that the Donald Trump administration is contemplating giving US CFTC the oversight of the $3 trillion crypto market. The proposal focuses on digital property like Bitcoin and Ethereum, categorized as commodities beneath present legislation. If carried out, it might grant the CFTC authority to supervise spot markets and exchanges.
US Crypto Coverage to Bear Key Modifications
Crypto market analysts hope for a serious US crypto coverage shift beneath the Trump administration, with Brian Quintenz as CFTC Chair anticipated to play a key function. The appointment of pro-crypto Paul Atkins as the subsequent US SEC chair already hints at this chance and a conducive atmosphere for crypto innovation.
The crypto business has been demanding readability on crypto coverage from the US Congress and regulators on which services fall beneath the jurisdiction of the US CFTC or the US SEC. Throughout his election marketing campaign, Donald Trump pledged to make America the Crypto Capital of the world.
Bhushan Akolkar
Bhushan is a FinTech fanatic with a eager understanding of economic markets. His curiosity in economics and finance has led him to give attention to rising Blockchain expertise and cryptocurrency markets. He’s dedicated to steady studying and stays motivated by sharing the data he acquires. In his free time, Bhushan enjoys studying thriller fiction novels and infrequently explores his culinary expertise.
Disclaimer: The introduced content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.
✓ Share: