Several leading advocacy groups in the cryptocurrency world backed Brian Quintenz’s candidacy for the Chair of the Commodity Futures Trading Commission (CFTC).
Support for a Crypto-Friendly CFTC
Quintenz’s nomination has received endorsements from organizations like the Digital Chamber, Blockchain Association, Crypto Council for Innovation, and DeFi Education Fund. Trump's second term has fostered a favorable environment for cryptocurrency assets and regulations, allowing crypto companies to operate more easily.
Industry Divisions
It was alleged that the Winklevoss twins reached out directly to Trump, asking for the withdrawal of Quintenz's candidacy. In response, supporting organizations addressed Trump through a collective letter, emphasizing Quintenz's leadership and integrity, showcasing internal conflicts within the sector.
Future of Crypto Regulation
Supporters argue that Quintenz has played an active role in shaping U.S. crypto policies and is seen as the ideal candidate. Discussions on the need for regulation become particularly relevant following the SEC's investigation into the Gemini platform and Cameron Winklevoss's stern public statements regarding regulatory actions.
The support for Quintenz indicates a desire for more favorable regulation of cryptocurrency assets, which could benefit the entire sector.
