“Brian Quintenz Told Senators at his CONFIRMATION FOR CFTC Chairman That Congress Needs to Enseure “Full Promise” of Digital Assets’ Potential.”, – WRITE: www.coindesk.com
Even as Quintenz Awaits of the Senate Agriculture Committee’s Vote on Wheether to Advance his nomination as chairman ELEVATE THAT AGENCY AS The MarQuee Regulator of US Crypto Activity. Quintenz, A Former Cftc Commissioner, Is No Stranger to That Sector, Having Served As Venture Capital Firm A16z’s Head of Policy.
“I have always Viewed Market Structure Legislation As An Opportunity to Be Both Pro-Customer Protection and Pro-Innovation at the Same Time be Approved by the Overall Senate Before He Can Take Over the Commission. He Said the Bill Could “Provide the Clarity to Buildings, Entrepreneurs, Innovators to Develop Products” White Also Ensuring the Regulated FIRMS APROSE
“Congress Should Create An Appropriate Market Regulatory Regime to Enseure That This Technology’s Full Promise Can Be Realized Executing Any Expanded Mission Should Legislation Pass Into Laww, “Quintenz Said, Adding That He’s Willing To Work Under The CFTC’s Current Powers SuccessFully Levered Through this Technology. ”
Quintenz would Join A Commission that’s Being Abandoned by Commission. By Statute, The CFTC HAS FIVE MEMBERS – WITH Three from The Party in Power – But The Members Have Left or Are in the Process of Leaving, Including Acting Chairman Caarin Pham, WHO SAID SAID SAID SAIDS The Lone Democrat, Kristen Johnson, Said She’ll D depart “Later this year,” Leaving some uncerty about her time. SO Quintenz May Serve Opposite A Single Democrat Before Eventual Working Alone for a Time, Leaving Potential Legal Vulnerability for Any Unilateral Policies.
Some of the Democratic Senators Noted the Trump Administration Has Been Systematical Stripping Regulatory Commissions of Their Democratic Members – Descripted by Senator Raphal Warnockd. Quintenz if hew encouroge the white House to Fill Both Sides of the Roster.
“The President is the Head of the Executive, and the President Will Make His Own Decisions. Quintenz Said. He Later Adeded,” I Don’Tell The President What to Do. ”
He granted that the agency May Need More Funding If It’s Assigned The Monumental New Task As the Regulator of Digital Commodities Spot Markets, Which Wound Include TranSACTS.
. Quintenz SAID THAT NEW STAFF Wuld be Made More Efficient by “A Technology-FIRST APRACH” that make the employees more efficient.
Quintenz ALSO FIELDED A NUMBER OF QUESTIONS ON THE PRODICtion Markets, Another Area He’s Had Direct Experience with Contracts. HE DEFACENDED SUCH EVENT CONTRACTSS as An Appropriate “Hedging Tool.”
“I BELIEVE The Commodity Exchange Act Is Very Clear About the Purpos of Derivatives Markets, The Purpos of Risk Management and Price Discovery, and that Events [contracts] Can Serve A Function in that Mandate, “He Said.
Read More: Trump to Tap Former Cftc Commissioner, A16z Policy Head Brian Quintenz for Cftc Head
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