- The Commodity Futures Trading Commission (CFTC) is an independent agency of the U.S. federal government that regulates the U.S. derivatives markets.
- Brian Quintenz is an American attorney and former public official known for his role as a commissioner of the U.S. Commodity Futures Trading Commission (CFTC).
- At its core, a blockchain is a decentralized type of database. They store data in blocks that are linked or “chained” together chronologically.
President Donald Trump’s nominee to lead the Commodity Futures Trading Commission (CFTC), Brian Quintenz, says blockchain is a transformative technology that goes beyond finance.
Making these remarks ahead of his Senate confirmation, Quintenz says blockchain has the potential to impact and transform all aspects of society.
He emphasized its capacity to reshape industries across the board and called it a “horizontal technology”.
“I view blockchain as a horizontal technology that has the potential to touch every aspect of society,” said Quintenz, who previously served as the global head of policy at a16z Crypto.
Quintenz also stressed the need for a clear and comprehensive regulatory framework for the crypto sector.
He noted that his global experience working with international regulators and policymakers,would help guide U.S. efforts to maintain leadership in digital asset innovation.
“As Congress considers new spot market regulatory authority over the crypto asset markets, I am fully prepared to provide the benefit of this experience to the members of this committee and to Congress as a whole,” Quintenz said.
His comments come amid ongoing debate in Washington over how to regulate digital assets and ensure the U.S. remains at the forefront of blockchain innovation.
President Donald Trump and his administration have been committed to a crypto friendly governance going so far as to axe off previous barriers brought in by the Biden Administration.
Globally more countries like Bhutan, Ukraine, United Arab Emirates, Korea have embraced crypto while others like India and the United Kingdom actively work on regulating the technology.