US regulator's pro-crypto comissioner won’t seek another term
Brian Quintenz to step down as CFTC commissioner
One of the Commodity and Futures Trading Commission’s (CFTC) most pro-crypto commissioners has announced that he will not seek another term at the U.S. regulator.
Brian Quintenz stated: “It has been a privilege to serve my country in this role, easily the most rewarding experience of my professional career.”
He vowed to stay until the end of October, explaining that “there are several critical rulemakings before the Commission about which I care deeply, have had a strong hand in developing, and wish to see finalised.”
Quintenz outlined the number of developments he had witnessed during his five years at the CFTC, such as: “the listing of bitcoin futures contracts, the custody of digital assets within the traditional clearing infrastructure, the proliferation of blockchain technology, and the creation of crypto-graphic, tokenized commodities.”
Highlighting his time as the sponsor of the regulator’s Technology Advisory Committee, as a particular honor, Quintenz alluded to “the extraordinary technological renaissance transforming our financial markets.” In 2017 on assuming the role he described distributed ledger technology as “creating a sea change in contract design, reporting and settlement.”
His advocacy for self-regulation of the emerging digital asset industry earned Quintenz plaudits from the crypto community.
With his departure coming hot on the heels of the similarly crypto-friendly SEC commissioner Hester Peirce, this community will hold its breath and wait to see if regulators will continue to allow this current ‘renaissance’ to flourish.
FURTHER READING: Dow opens up on Gilead Covid-19 drug hopes
FURTHER READING: Bitcoin experiences longest winning run since August 2019