It is a truth universally acknowledged that a President in possession of a good fortune must be in want of a CFTC Chairman. President Donald Trump, in his infinite wisdom, has chosen Brian Quintenz to fill this esteemed role, as reported by the illustrious Bloomberg News.
Mr. Quintenz, who currently leads the cryptocurrency policy at the venture capital giant Andreessen Horowitz (a16z), is well-known for his unwavering support of the cryptocurrency industry. His appointment could expand the CFTC’s role in regulating digital assets, an area traditionally overseen by the stricter SEC.
In addition to this delightful news, President Trump has also stirred 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. And 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. 🤩
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2025-02-12 12:05