US President Donald Trump is reportedly set to nominate Brian Quintenz, head of policy at the crypto division of venture capital firm Andreessen Horowitz (a16z), as the next chair of the Commodity Futures Trading Commission (CFTC).
This nomination was disclosed in a document sent from the White House to Capitol Hill, as reported by Bloomberg on February 12. If confirmed, Quintenz is expected to champion pro-crypto policies and position the CFTC as the leading regulatory body for the cryptocurrency industry, potentially taking on a more prominent role than the Securities and Exchange Commission (SEC).
The document also highlighted other key nominations from Trump’s administration. Jonathan Gould, a partner at global law firm Jones Day, has been proposed for the position of Comptroller of the Currency, which oversees the regulation of national banks in the US. Additionally, Jonathan McKernan, who resigned from the Federal Deposit Insurance Corporation (FDIC) on February 11, is set to become the permanent head of the Consumer Financial Protection Bureau (CFPB).
Quintenz’s CFTC Background
Brian Quintenz has deep ties to the CFTC, having previously served as a Republican commissioner during Trump’s first term from 2016 to 2020. Throughout his tenure, Quintenz was a vocal advocate for integrating digital asset derivatives and cryptocurrency products into the CFTC’s regulatory framework.
In March 2023, Quintenz criticized the SEC, led by Gary Gensler, for its inconsistent approach toward the legal status of Ether (ETH). He pointed out that the SEC had previously acknowledged Ether as a non-security asset when it approved Ether futures exchange-traded funds (ETFs) in October 2023. Quintenz argued that if the SEC had any doubt about the regulatory treatment of ETH, it would not have approved such a financial product. He emphasized that if Ether were a security, the futures contracts listed by the CFTC would be deemed illegal.
a16z’s Role in Crypto Regulation
Quintenz’s potential appointment comes at a time when a16z is closely watching developments in crypto regulation. The firm has expressed optimism about a more flexible regulatory environment under the new administration, which could allow for greater experimentation and innovation in the crypto space. a16z, one of the largest venture capital firms in the cryptocurrency sector, has funded numerous high-profile crypto startups, including Solana, Maker (now Sky), Avalanche, Aptos, EigenLayer, Lido, Nansen, OpenSea, and Coinbase.
With Quintenz’s expertise and a16z’s backing, the crypto industry could see significant shifts in how digital assets are regulated, with the CFTC potentially taking a more active role in overseeing the market’s growth and development.
