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CoinDesk 2025-02-12 03:54:11

Trump to Tap Former CFTC Commissioner, a16z Policy Head Brian Quintenz for CFTC Head

Brian Quintenz, a one-time commissioner with the Commodity Futures Trading Commission (CFTC), and Andreessen Horowitz's (a16z) head of policy, will be Donald Trump's choice to run the federal commodities regulator. Quintenz previously served with the regulator between 2017 and 2021, where he organized the Technology Advisory Committee. During his time as commissioner, he said a self-regulatory organization specific to the crypto industry could help oversee companies . Since leaving the agency, he joined a16z, where he became the head of policy . A16z was one of the major funders of Fairshake, a crypto-focused political action committee which poured close to $140 million into the 2024 election. Punchbowl News first reported the nomination. In a statement, acting CFTC Chair Caroline Pham said, "I congratulate my friend Brian Quintenz on his selection for CFTC Chairman. I worked with Brian on important initiatives that he led to success when he was a CFTC Commissioner. He will do the same for crypto and innovation. I look forward to supporting Brian and his leadership at the CFTC." Industry groups likewise supported the nomination after news of it spread. Miller Whitehouse-Levine, the CEO of the DeFi Education Fund, a lobbying group, said the organization looked forward to working with him. "Brian has a long track record of supporting DeFi and advocating for sound policies that will enable DeFi developers and users to thrive in the United States," he said in a statement. In recent years, the industry and Congress have pushed toward giving the CFTC greater oversight of the industry. Former CFTC Chair Rostin Behnam advocated for making the agency a primary market regulator for at least parts of the industry, including overseeing spot Bitcoin markets. A bill, the Financial Innovation and Technology for the 21st Century Act, would have given the CFTC greater authority over crypto policy. The House passed it last year, but it did not go through the Senate.