October 24, 2021

PC TECH THERAPY

PC Tech Therapy Blog by Daniyal Computer

Crypto-friendly CFTC commissioner Brian Quintenz reportedly plans to step down

2 min read



Brian Quintenz, who has served as probably the most commissioners with the Commodity Futures Buying and selling Fee, or CFTC, reportedly plans to depart the company on Aug. 31.

In line with a Thursday document from the Wall Boulevard Magazine, Quintenz is anticipated to announce his transfer into the non-public sector after leaving the CFTC later this month. He hinted that his long run occupation may just come with a focal point on “innovation, specifically associated with cryptocurrency and DeFi” and deliberate to proceed advocating for the crypto house.

Quintenz used to be first nominated to the location by way of President Barack Obama in March 2016 sooner than being re-nominated by way of Trump in Might 2017 and showed that August. His time period on the CFTC used to be scheduled to finish in April 2020, however he introduced at the moment he would keep “till the sooner of the affirmation of my successor or October 31, 2020,” later extending this to “till the Senate acts on a affirmation.”

Many within the trade know Quintenz as probably the most main voices in prefer of crypto on the CFTC. He has argued cryptocurrencies like Bitcoin (BTC) must be regulated by way of the CFTC relatively than the Securities and Alternate Fee and in addition known as on crypto trade stakeholders to create a self-regulatory framework. 

Similar: US lawmakers urge CFTC and SEC to shape joint operating staff on virtual property

The CFTC has 5 commissioners in its panel. With the departure of Quintenz and former chairperson Heath Tarbert, there are two empty seats to be had to be full of nominations from President Joe Biden. CFTC commissioner Rostin Behnam has been appearing as chairperson since Tarbert left in January.