Donald Trump has appointed Brian Quintenz, a former Kalshi board member and former Commodity Futures Trading Commission (CFTC) commissioner, as the head of the federal commodities regulator.
He served at the CFTC from 2017 until 2021, and was among the driving forces behind the creation of the Technology Advisory Committee.
Quintenz advocated for a self-regulatory organization that perfectly fits the crypto space.
Since leaving the CFTC, Quintenz has been Head of Policy at Andreessen Horowitz (a16z), a venture capital company extremely interested in blockchain and cryptocurrency.
a16z was also one of the most significant contributors to Fairshake, a crypto political action committee that spent nearly $140 million during the 2024 election cycle. His close association with the crypto space would mean a regulatory approach that could be biased toward favoring growth and development in the sector.
The nomination was backed by industry leaders such as acting CFTC Chair, Caroline Pham. She cited his previous success at the CFTC and his commitment to crypto and tech innovation.
Pham was unanimously elected by the Commission members to serve as Acting Chairman. She took office on January 20 following former Chairman Rostin Behnam's resignation.
Behnam, who became Chairman in 2021, stated that he was resigning as of Jan. 20, at the time of President Trump's inauguration, with his final working day on Feb. 7.
Quintenz's nomination was welcomed by organizations such as the DeFi Education Fund, whose CEO Miller Whitehouse-Levine welcomed his track record of supporting decentralized finance (DeFi) and championing policy that allows DeFi users and developers to thrive in America.
CFTC Ready to Go in New Direction
The move to appoint Quintenz comes after Congress and the crypto community have been pushing for the CFTC to be more engaged in regulating virtual assets. Behnam had earlier supported giving the agency more power to regulate the industry, particularly spot Bitcoin markets.
An effort in Congress to enshrine this expanded role, the Financial Innovation and Technology for the 21st Century Act, passed the House but went nowhere in the Senate.
Quintenz's nomination is part of broader efforts by pro-crypto blocs to guide regulatory policy that promotes industry development while tackling issues related to market integrity, investor protection, and financial stability.
CFTC and Kalshi Clash
While Behnam has experience with the CFTC and Kalshi, these organizations have recently clashed. The CFTC considered blocking Kalshi’s Super Bowl trading contracts in the days leading up to the big game. The CFTC announced it would hold a roundtable to address the issue of sports prediction markets within a few months.
If Behnam is confirmed in his new role, he may be able to mend some of these fences between the regulator and event contract platforms with experience from both sides.
