Key Notes
- Major trader associations will support Quintenz to be sent to the White House.
- The White House recently stalled Quintenz’s confirmation for the second time.
- Representative Dina Titus called for an investigation into his ties with prediction platform Kalshi.
Brian Quintenz, Donald Trump’s nominee for CFTC Commissioner, is seeking the help of the crypto industry as his nomination remains stalled at the moment. The White House has maintained silence since halting his Senate Agriculture Committee confirmation hearing three weeks ago.
CFTC Nominee Brian Quintenz Engages Crypto Industry
Brian Quintenz, the global head of policy at a16z Crypto, has recently reached out to members of the crypto industry for meetings to push further for its nomination.
Citing sources familiar with the matter, the crypto industry Eleanor Terret reported that major trade associations, including the Chamber of Digital Commerce, Blockchain Association, Crypto Council for Innovation, and the DeFi Education Fund, are preparing to send a letter of support to President Trump as early as tomorrow.
The U.S. Securities and Exchange Commission (SEC) has chosen Paul Atkins, who recently launched Project Crypto, advancing Trump’s pro-crypto policies. However, the appointment of the CFTC Commissioner still remains in limbo. Caroline D. Pham is currently serving as the interim Commissioner, with Quintenz in the race to fill her shoes permanently.
While speaking at the Coinbase Summit in June, Pham stated that the CFTC won’t leave the crypto industry with loose ends, simply because of Donald Trump’s crypto-friendly policies.
White House Delays Quintenz’s Appointment?
Two weeks before, the White House halted the nomination of Brian Quintenz as the CFTC Commissioner for reasons unexplained. Quintenz was likely to receive approval from the Senate Agriculture Committee on Monday, a key step before a full Senate confirmation vote, but the administration intervened, marking the second delay in his nomination process.
On the other hand, a U.S. lawmaker requested that the U.S. CFTC investigate its chair nominee, Brian Quintenz, over his connections to Kalshi, a prediction market regulated by the agency.
In a letter sent on August 20, Democratic Representative Dina Titus urged Acting Chair Caroline Pham to launch “an inquiry into whether Mr. Brian Quintenz has violated CFTC policies, any applicable federal statute, or his own ethical pledge prior to his Senate confirmation” as head of the commission. She wrote:
Titus stated that a recent Freedom of Information Act request revealed Quintenz had “sought information about Kalshi’s competitors and may be participating in agency decision-making before his Senate confirmation.”
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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Source: https://www.coinspeaker.com/brian-quintenz-seeks-crypto-industry-support-cftc-chair/
