Trump's CFTC nominee's promise on crypto and the market

Brian Quintenz, who was nominated by Donald Trump for the chairmanship of the U.S. Commodity Futures Trading Commission (CFTC), promised transparency and clarity to the crypto world. In a written statement before the Agriculture Committee session, where CFTC chairman nominees answer senators' questions and seek confirmation, Quintenz pledged to ensure fair distribution of authority in the markets.

Quintenz, who has previously served as a director at the CFTC, will participate in the Senate confirmation hearing today at 10 PM UTC and will answer questions from the senators.

"I traveled the world and saw the deficiencies"

Previously, the CFTC chairman candidate, who is the policy manager of a16z's crypto unit, known for its investments in the technology sector, stated that he wants the US to maintain its leadership position in blockchain technology and said the following:

"I've talked to executives in many jurisdictions around the world. I learned what they achieved and what they didn't achieve. There is now a need for comprehensive regulation for cryptocurrencies. There is a need for clarity in market surveillance. I'm fully prepared to use my experience."

The experienced individual, who also mentioned their role at a16z, stated that they believe their experience at this company will also be useful in the position of CFTC chair.

"Blockchain impacts life..."

Quintenz stated that blockchain technology will affect not only the financial world but many areas of life, saying, "Blockchain is not a vertically oriented technology. It is horizontal and has many branches. It touches many areas of life."

"Cryptocurrencies are here to stay"

The CFTC chair candidate, who stated that both blockchain technology and cryptocurrencies will continue to exist for many years, used the following expressions:

"Cryptocurrencies and blockchain will be with us for a long time. They will provide people with an asset they can own. Digital intellectual property, digital identities, and the value of the contributions offered to communities will be very important."

4 Commission members extended the process

As is known, some of the 4 members who served in the Commission at the CFTC have resigned, while others have announced that they will be leaving. It seems that the news of these departures is prolonging the process during this critical period when the presidential approval is expected.

The current acting chair, Republican member Caroline Pham, announced that she would resign following the confirmation of Brian Quintenz.

Democratic member Christy Goldsmith Romero completed her last official duty day on May 31 and left.

Another Republican commission member, Summer Mersinger, was the first to announce the separation. Mersinger has started as the CEO of the Blockchain Association.

Democratic member Kristin Johnson also announced that she would be leaving the CFTC at the end of the year.

Published: June 10, 2025 13:56Last Updated: June 10, 2025 14:01