Crypto advocacy groups rally behind Quintenz for CFTC Chair in letter to Trump
Quick Take “He is, quite simply, the right person at the right time to lead the CFTC,” the groups said of Brian Quintenz. A vote by the Senate Agriculture Committee was cancelled twice last month, the second time due to a request from the White House.
Washington's biggest digital asset lobbying groups are pressing for Commodity Futures Trading Commission Chair pick Brian Quintenz to be promptly confirmed in a letter sent to President Donald Trump.
In that letter on Wednesday, the Crypto Council for Innovation, Blockchain Association, DeFi Education Fund, The Digital Chamber, the Solana Policy Institute, among others, said Quintenz's confirmation is needed as lawmakers draft legislation that would put the CFTC at the helm of digital asset regulation.
"Installing a permanent Chairman to the CFTC is absolutely critical to realizing these goals with rules, guidance and interagency collaboration that will prove durable and able to stand the test of time to ensure a golden age of crypto innovation," they said in the letter to Trump.
"He is, quite simply, the right person at the right time to lead the CFTC," they added.
Quintenz's nomination to become CFTC chair has been thrown into disarray. A vote by the Senate Agriculture Committee was cancelled twice last month, the second time due to a request from the White House. Others say Gemini's Tyler and Cameron Winklevoss, among other industry players, have successfully voiced their concerns over Quintenz's supposed agenda. Tyler Winklevoss previously told The Block that many in the crypto industry have "serious concerns with his nomination."
However, the crypto organizations say that Quintenz is "uniquely prepared" to be CFTC chair, citing his understanding of crypto and blockchain and his previous time as a commissioner at the CFTC.
"He has been a strong advocate for protecting software developers who build peer-to-peer, non-custodial systems and for ensuring that any regulatory framework allows such innovators to thrive in the U.S.," the organizations said on Wednesday. "With a clear-eyed view of the immense potential of this technology and the risks posed by bad actors, Mr. Quintenz is uniquely prepared to lead the CFTC in establishing fair, transparent, and trusted markets that will safeguard America’s leadership in digital assets."
Trump tapped Quintenz to lead the CFTC earlier this year. Quintenz was a commissioner at the CFTC during Trump's first administration, and at the time of his initial nomination, many in the crypto industry cheered that move. The CFTC will be instrumental in how crypto is regulated, as lawmakers in Washington are currently working on legislation that would give the agency broader authority over the industry.
If he becomes chair, Quintenz would join the agency as it is undergoing a major leadership shuffle . Four remaining commissioners have either stepped down in recent months or have announced plans to leave.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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