President-elect Trump has tapped former CFTC commissioner Brian Quintenz as chairman of the Commodity Futures Trading Commission (CFTC).
Currently, Brian serves as policy officer at venture capital firm a16z. This appointment marks a significant change in the crypto industry, with the CFTC set to play a key role in monitoring digital assets.
Brian's Return to the CFTC
The news was reported by Fox Business, which cited three confirmed sources with knowledge of the decision. Although there is still no official announcement from the White House, some CFTC officials have confirmed the news.
Reporter Terret posted in X that the CFTC's current acting chair, Caroline D. Pham, congratulated Quintenz:
"I worked with Brian on important initiatives that he led to success when he was CFTC commissioner. He will do the same for the crypto sector and innovation. I look forward to supporting Brian and his leadership at the CFTC."
🚨SCOOP: Three sources with direct knowledge of the matter tell me that @realDonaldTrump has chosen @BrianQuintenz, current Head of Policy at @a16z crypto and a former commissioner, to be permanent chair of the @CFTC.
- Eleanor Terrett (@EleanorTerrett) February 12, 2025
No official statement from the @WhiteHouse yet, but officials...
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Quintenz served as CFTC commissioner from 2017 to 2021 and helped set clear regulations for digital assets. He has also worked as a policy manager for a16z crypto, the venture capital division of Andreessen Horowitz.
Crypto Regulatory Reform
Brian's appointment comes as the CFTC is planning a reform of the regulatory framework for the digital asset sector. The regulator announced that it will hold discussions on various aspects of cryptocurrencies, with a particular focus on the regulation of stablecoins.
The commission plans to hold a discussion on stablecoin oversight, a forum on the regulation of predictive markets, and further public meetings on digital asset regulation.
The Expected Legislative Changes
The most significant change under the Trump administration concerns the transfer of spot market regulation of Bitcoin and Ethereum from the SEC to the CFTC. Together, these two cryptocurrencies have a combined market capitalisation of $2.2 trillion, or about 70 per cent of the entire global crypto market.
Christopher Giancarlo, former chairman of the CFTC and known as 'Crypto Dad', has always supported this transition. He stated that the CFTC could oversee these digital assets as commodities:
"With proper funding and under the right leadership, the CFTC could be operational from day one of Donald Trump's presidency to begin regulating digital commodities."
Eleanor Terrett
Source: Fox Business
Under the Trump administration, the US Congress is considering legislation to redefine the roles of the SEC and CFTC. Tennessee Congressman John Rose has proposed the BRIDGE DIGITAL ASSETS Act, which would introduce a shared regulatory framework between the two government agencies.
The proposal would see the creation of a committee with 20 private sector representatives, tasked with guiding the regulation of the crypto sector and ensuring that the industry's voice is heard.
