Crypto-friendly CFTC commissioner Brian Quintenz reportedly plans to step down
Brian Quintenz, who has served as one of many commissioners with the Commodity Futures Trading Commission, or CFTC, reportedly plans to go away the company on Aug. 31.
According to a Thursday report from the Wall Street Journal, Quintenz is expected to announce his transfer into the non-public sector after leaving the CFTC later this month. He hinted that his future profession may embrace a give attention to “innovation, particularly related to cryptocurrency and DeFi” and deliberate to proceed advocating for the crypto house.
Quintenz was first nominated to the place by President Barack Obama in March 2016 earlier than being re-nominated by Trump in May 2017 and confirmed that August. His time period on the CFTC was scheduled to finish in April 2020, however he announced at the moment he would keep “until the earlier of the confirmation of my successor or October 31, 2020,” later extending this to “until the Senate acts on a confirmation.”
Many within the business know Quintenz as one of many main voices in favor of crypto on the CFTC. He has argued cryptocurrencies like Bitcoin (BTC) needs to be regulated by the CFTC relatively than the Securities and Exchange Commission and in addition referred to as on crypto business stakeholders to create a self-regulatory framework.
Related: US lawmakers urge CFTC and SEC to type joint working group on digital property
The CFTC has 5 commissioners in its panel. With the departure of Quintenz and former chairperson Heath Tarbert, there are two empty seats out there to be crammed with nominations from President Joe Biden. CFTC commissioner Rostin Behnam has been appearing as chairperson since Tarbert left in January.