Crypto-friendly CFTC Commissioner Brian Quintenz to leave Agency

Brian Quintens, one of the Republicans currently serving as commissioner of the Commodity Futures Trading Commission (CFTC), announced plans to leave the agency by the end of the month. According to a report by The Wall Street Journal, Quintentz said in an interview that he would leave the agency by August 31, despite being eligible to stay at the agency until the end of the year.

Commissioner Quintens Was Succeeded By Senator Mitch Mcconnell (R., Kentucky) was appointed by former President Donald Trump on his behalf, and although his 5-year term expires in April 2020, the president has expressed a willingness to stay at the agency until the Senate gives several new endorsements. However, with only one Republican remaining after former Chairman Heath Tarbert’s January departure, more vacancies will inevitably emerge with his departure.

Brain Quintens is a well-known advocate of cryptocurrency innovation and is often of the opinion that bitcoin regulation is under the jurisdiction of the CFTC rather than the Securities and Exchange Commission (SEC). Quintanz also expressed the need for stakeholders in the field of digital currencies to create a self-regulating system. At the time of writing, There is no indication Quintence will be a new replacement, but it is reported that President Joe Biden has appointed Acting President Rostin Behnam to a more permanent role.

SEC vs. CFTC: divided opinion on control of crypto Sunday 
There was little disagreement between the agency that was best suited to decommissioning the growing cryptocurrency industry. Sec Chairman Gary Gensler, himself a former CFTC boss, has confirmed plans to regulate the crypto ecosystem, while leading voices in the crypto field believe balanced regulation can only be achieved with the emergence of a full CFTC Chairman.

As one of the top votes at the Commodity Futures Trading Commission, he has a positive trend towards the crypto Sunday

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