Brian Quintenz Nominated as Chairman of the CFTC
Former Commodity Futures Trading Commission (CFTC) Commissioner Brian Quintenz has been selected by Donald Trump to lead the federal commodities regulator. Quintenz, who served on the CFTC from 2017 to 2021, was instrumental in establishing the Technology Advisory Committee, which focused on integrating technological advancements into regulatory frameworks. Throughout his tenure, he advocated for the establishment of a dedicated self-regulatory organization aimed at overseeing the burgeoning crypto industry.
Since his departure from the CFTC, Quintenz has taken a prominent role as the head of policy at Andreessen Horowitz (a16z). This venture capital firm has been a significant backer of Fairshake, a political action committee focused on cryptocurrency, which has infused nearly $140 million into the 2024 electoral cycle. The news of his nomination was first reported by Punchbowl News.
In response to the announcement, Acting CFTC Chair Caroline Pham expressed her congratulations, stating, “I am thrilled to congratulate my friend Brian Quintenz on his selection as CFTC Chairman. During his time as a commissioner, we collaborated on several pivotal initiatives, and I have no doubt he will continue to champion innovative solutions for the crypto space. I eagerly anticipate supporting Brian in his leadership role at the CFTC.”
Industry stakeholders have also voiced their support for Quintenz’s nomination. Miller Whitehouse-Levine, CEO of the DeFi Education Fund, a lobbying organization focused on decentralized finance, remarked, “We are excited about the prospect of working alongside Brian. He has consistently demonstrated a commitment to supporting DeFi and advocating for effective policies that empower developers and users in the United States.”
In recent years, there has been a growing push from both the industry and Congress to enhance the CFTC’s regulatory authority over the cryptocurrency sector. Former CFTC Chair Rostin Behnam advocated for the agency to become the primary market regulator for significant portions of the crypto ecosystem, including the oversight of spot Bitcoin markets. A legislative proposal known as the Financial Innovation and Technology for the 21st Century Act aimed to grant the CFTC expanded powers over cryptocurrency regulation. While this bill passed in the House last year, it unfortunately did not advance in the Senate.
