Brian Quintenz, U.S. President Donald Trump’s pick to lead the Commodity Futures Trading Commission, doubled down on his crypto-friendly stance as he testified before the United States Senate Committee on Agriculture, Nutrition, and Forestry on Tuesday during his nomination hearing.
Blockchain Technology Is the Future, Brian Quintenz Says
Fielding questions from prominent senators, including Chair John Boozman (R-AR) and Ranking Member Amy Klobuchar (D-MN), the one-time a16z global crypto policy head reaffirmed his pledge to “embrace innovation” while at the CFTC.
“It is time for a comprehensive regulatory framework for crypto assets, including token classification clarity and clear jurisdiction for trading market oversight,” Quintenz said.
“Congress should create an appropriate market regulatory regime to ensure that this technology’s full promise can be realized, and I am fully prepared to use my experience and expertise to assist in that effort as well in executing any expanded mission should legislation pass into law,” he added.
The former CFTC commissioner also claimed that “blockchain and crypto tokens are here to stay,” though their value may be hindered by consequential regulatory practices.
“That value can only be realized if holders of those products have markets with integrity in which they can transact and have clear rules of the road to build without fear of regulation by enforcement,” he added.
CFTC Sees Staffing Woes, Regulatory Shifts
Quintenz’s latest remarks on crypto come amid sweeping regulatory changes to the digital asset industry as a whole under the Trump administration, marking a stark shift away from the CFTC’s stringent regulatory approach in previous years.
The agency is currently undergoing a major staffing shakeup, with four commissioners having announced their resignations in recent months.
In a farewell speech delivered late last month in Washington, D.C., outgoing Commissioner Christy Romero warned the American public that taking such “big swings” between “regulation and deregulation” could ultimately hinder the success of the nation’s financial markets.
“As the current administration pursues a deregulatory agenda in the name of growth, care should be taken not to remove the load-bearing resilience built into markets—resilience that has resulted in financial stability and protected our economy,” said Romero.
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