Author: Veronica Irwin Source: unchainedcrypto Translation: Shan Oppa, Golden Finance

We were in early December last year Be the first to report that former CFTC Commissioner Brian Quintenz is most likely to be elected as CFTC Chairman. The appointment has been formally confirmed, according to a White House document seen by Unchained.

U.S. President Donald Trump nominates Brian Quintenz to lead the Commodity Futures Trading Commission (CFTC). Quintenz currently serves as the head of a16z crypto and has been a member of the CFTC.

He is believed to be a major supporter of the crypto industry in this position and promotes the CFTC as the main regulator of cryptocurrencies, not the SEC.

Major victory in the cryptocurrency industry

Quintenz, who served as a CFTC member from 2017 to 2021, has always maintained a conservative stance and publicly supported the crypto industry, Although Trump himself was skeptical about cryptocurrencies at the time.

While working at the CFTC, he was often reported by the media along with SEC Commissioner Hester Peirce, who was called the "crypto mom" for supporting the cryptocurrency industry ( Crypto Mom). They are all major advocates for promoting clearer cryptocurrency regulation and promoting innovation. Quintenz has also repeatedly called on the crypto industry to establish its own self-regulatory organization to avoid law enforcement actions and propose a viable regulatory framework.

He said in an interview with CNBC in 2018: "I recommend that the community unite and try to form an independent regulatory body that should have the power to enforce the rules. , and can add credibility to the market. ”

CFTC may become a key regulator in the crypto industry

Quintenz The future-leading CFTC may play in cryptocurrency regulation Key role.

If the new Congress that supports cryptocurrencies passes market structure legislation, give the CFTC the power to regulate cryptocurrencies, then Quintenz will be responsible for setting specific rules that guide the agency how to enforce these laws.

Trump reportedly plans to pass the crypto market structure bill promoted by Congress to expand the CFTC's regulatory authority over cryptocurrencies while weakening the SEC's power. The SEC was unfriendly to the crypto industry during Trump's first term, and under Biden, the agency's supervision of the industry was even more severe.

The crypto industry has long promoted the CFTC as a major regulator, while also requiring the United States to develop a clearer regulatory framework. Quintenz’s appointment is therefore seen as a major victory for the industry.

Cryptocurrency Regulatory Legislation is about to be introduced

Last week, Trump's head of cryptocurrency and artificial intelligence, David Sacks, held a press conference with members of Congress, announcing that he would Promote a new cryptocurrency market structure bill. Attendees included Sen. Tim Scott, Rep. French Hill (Chairman of the House Financial Services Committee), Sen. John Boozman and Rep. GT Thompson. Hill said in the Unchained podcast last July that the bill would be one of the first two bills he pushed for the passage of the committee.

Sacks also announced that the House and Senate will form a joint working group to jointly advance cryptocurrency legislation to ensure the United States' competitiveness in the field.

Quintenz's background and connections

It is reported that a16z founder Marc Andreessen has been in communication with Trump during the campaign and handover and may be the appointment of Quintenz Support was provided. In recent years, Andreessen and some of Silicon Valley thought leaders (including Sacks) around him tend to be more conservative. Therefore, Quintenz's popularity in this group may have played an important role in its nomination process.

Andreessen has not commented on this yet.

Quintenz is currently on the board of directors of Kalshi, a forecasting market platform. Although Kalshi itself is not a cryptocurrencybut it is a major competitor to Polymarket, the blockchain forecasting market, which is favored by Trump.

Previously speculated that Quintenz's connection with Kalshi might influence Trump's perception of him, but sources said the competition between Kalshi and Polymarket It did not play a key role in this appointment.

What is more likely to affect Quintenz is the current legal lawsuit between Kalshi and the CFTC. Three regulatory experts explained to Unchained that Quintenz may need to evade Kalshi-related CFTC affairs, which could lead to a decrease in voting power for conservatives on such issues.

However, Kalshi filed a lawsuit against the CFTC over whether it could legally provide election forecasts—an action likely approved by its board of directors. This also makes Quintenz the kind of regulatory official that Trump wants to see. In addition, Trump’s eldest son, Donald Trump Jr., just joined Kalshi last month as a strategic consultant, further strengthening the company’s ties with the new.

The White House has not commented on the appointment yet.