Gemini’s Tyler Winklevoss Says Trump Cftc Pick Quintenz Has ‘DisQUALIFYING’ Views

He Thinks Former CFTC Commissioner Brian Quintenz is a Bad Choice, and He’s Been Talking with Officials from the Trump Administration About IT, He Told Condesk in An Interview. That coincides with the White House slamming the Brakes on a Necessary Step in Quintenz’s Confirmation Process in the Senate.

The Administration Didn’t Give The Senate Agriculture Committee Agriculture A Full Explanation WHEN IT HALTED QUINTENZ’s Committee Vote this Week that Wuld be Advanced Hispal. And the WHITE HOUSE DIDN’T IMMEDIATELY respond to quests from cam Predict-markets FIRM KALSHII, TUUGH The White House has reportedly Continued to Back the nomination.

“Many in Our Industry Have Significant Concerns About this Nomination,” Winklevoss Told Coindesk. “Mr. Quintenz is not aligned with the president’s stated Agenda and Objectives.”

Read More: Quintenz, Trump’s Pick As Potential US Crypto Watchdog, Delayed By White House

Winklevoss and his twin brother, Cameron, Fellow Co-FOUNDER OF GEMINI AND Other Shared Business Interes, Are Among The Promnine Crypto Insiders Who’leeier-Incopied ACCUPIED ACCUPIED ACCUPIED Campaign to Elevate the US Digital Assets Industry. WHEN TRUMP Hosted A White House Crypto Summit, The Brothers Were Seated Among the Primary Guests. And WHEN The President Sigrated the Guiding and Establishing National Innovation for Us Stablecoins (Genius) Act Into Law, they Were Sitting in the Front Row Beside COIN COININ Armstrong and Tether Ceo Paulo Ardoino.

Cameron and Tyler Winklevoss Take A Selfie at the White House After the President Signed The First Major Crypto Bill. (Jesse Hamilton/Coindesk)

Trump Even Mentioned The Brothers in his Remarks About the First Big Crypto Legislative Win. Soy’ve come to Occupy a promote place in the president’s View of the Crypto Industry, Raising Questions About Whather Gemini Can Get Quintenz Bootted from Consideration.

AT this Late Stage in the Confirmation Process, A Significant Delay or Starting Over Could Weight Weight On the Industry’s Policy Prioritis. Whtc May Largely Be Invisible to The Us Public, ITS IMPORTANCE FOR THE CRYPTO SPACE HAS BEEN SHARPLY RISING AS LAWMAKERS IN CONGRESS GET CLOSER TO PASSING LEGISLATION THAT W. Regulation in the US but Tyler Winklevoss Argued It Wound Be A Mistake to Put Quintenz in Charge.

The gemini cends that quintenz had the wrong Views on Protecting Developers, Central Bank Digital Currencies (CBDCS) Made on Behalf of the Company He Serves as A Board Member, Kalshi.

Developer Liability”Quintenz Supports ProseCuting Smart Contract Developers,” Winklevoss SAID, Calling IT A “DisQUALIFYING POSION.”

“Smart Contract Developers Need to be Protected In Order for Innovation to Flourish and to Realize President Trump’s Vision of Making America The Crypto Capital of the World,” HE.

In October 2018, Thens-Commission Quintenz Gave a Speech on Smart Contracts, Saying That A Developers Regulations. With Roman Storm, A Developer Begind Tornado Cash, Currently awaiting his jury verdict in a US Criminal Trial, The Question of a Software Developer’s Liability.

The Industry Has A Strong Take On this Matter, Arguing that Creaters Shouldn’n Be Punied for How Their Creations Arered. In Much The Same Way that ManUfAktures of Cars and Firearms Communication Technologies Aren’t Pursued by Criminal Prosecution for How Their Products Are Used Thors, The Sectors, The Sectors Innovators Similarly Shouldn’ be on the Hook for How Their Platforms and Tools Are Utilized Downstream, As Long as The Products Are Not Actively Managed Be.

The Industry Position Sems to Fall in Line with A Speech Securities and Exchange Commission Chairman Paul Atkins Gave on Thursday to Annune His Agency’s “Protecting Pure Publishers of Software Code.”

KalshiIn his Objects to quintenz, winklevoss also flagged recent reports on the former Commissioner’s Communications with The CFTC As a Private Citizen, As He Allegedly Sough. Platform Kalshi, WHERE HE Serves on the Board of Directors.

Winklevoss SAID RECENT REVELATIONS OF EMAILS SOUGHT UNDER The FREEDOM OF INFORMATION ACT, IN Wich Quintenz and An Associate Seem to have Requested Into Into Into. “Raise Serious Questions.”

Brian Quintenz (Coindesk Archives)

The CFTC HAS WAGED A Longstanding Battle Over Regulation of the Predict Markets. The Position of the Previos Leadership Under Chairman Rostin Behnam Was That Activity Should Be Regulated As Gambling, and He Had Concens Overns Overns Overns. Prediction Betting. Behnam’s Agency Fough The Industry in Court, Including Kalshi, Thought It Recently Abandoned that Dispute.

Wht CFTC ACTING CAROLINE PHAM HAS AGENCY TOOK the Wrong Path, she said is my distarchult to reverse i and An inApproprate Constraint on the New Administration. ”

CFTC FUNDINGWinklevoss Also Raceded Issue with Quintenz’s Remarks on the Likely Need of More More Mooney and Resources at the CFTC As It Takes on Oversight of A Swath of Us.

“The Trump Administration Wants to Cut Red Tape and Deregulate,” Winklevoss SAID. “This Nominee Continues to Advocate for Dramatical IncreASING BUDGETS AND OVERREGulation that Will Lead to Regulatory CAPTURE.”

In his sentate confirmation hearing, quintenz suggested a significant Budget Boost Will Probably Be Needed If The CFTC Is Eventual Tasked As The Leading Federal Regulator.

However, The Question of Funding Has Long Been Central To Discussions On Crypto Legislation to Overhaul CFTC Authority. Republicans have routinely acknowledged that the agency is Likely to seek More Resources to ALLOW IT TO OVERSEE A BROAD NEW AREA Meaning A Market WHERE ACTUAL Assets Are Traded, Such As Bitcoin

.

WHEN Asked About It in a Coindesk TV Interview this Week, Top Trump Crypto Adviser Bo Hines Granited that Agency May Need More Resources.

“CONGRESS IS WELL AWART THAT THE CFTC MIGHT REQUIRE Some Additional Labor, But I Think That’s Something We Can Can Easily Get Done Through Legislation,” Hines Said.

CBDCSThe GEMINI CO-FOUNDER ALSO INTERPREPRETED PRIME OF QUINTENZ’s PAST comments on Central-Bank Digital Currencies Republican Politicians and MOST OF THE CRYPTO INDUSTRY. But Quintenz’s Remarks in 2020 Were Relativly SuperFicial, Suggesting that It’d Important That The CFTC “Stays Abreast of Legal and Regulatory Described in Public Remarks As an “Area of Particular Interest to Me.”

Even An Interest Should Be Disqualifying, Winklevoss Contends.

“You short not be interested in cbdcs or enterting that kind of totalitarian Technology,” He Said. “That in ittself is disqualifying and against everythingnessing ord of Industry Stands for.”

From Congressional Candidates Up to Trump, Republican Lawmakers Have Painted The Concept of Cbdcs As A Government Campaign to Seek Control and Surveillance Over. But The Idea Never Progressed Further Than A Discussion Point With Some Democratic Lawmakers and A Topic of Technical Study Among Regulators and Has Never Risen to Ana to the Anae. to impelment government-backed digital currencies.

Federal Reserve Officials, Including Chair Jerome Powell, Had Routinely Said they woldnn’t act with Transactions Should be Managed by US Banks and Not the Government.

CFTC Leadership VacuumThe Pause in Quintenz’s Confirmation Has Thrown Up Some Significant Questions About the Future Leadership of the Cftc. The Five-Member Commission Currently Has Only Two Members-One From Each Party-and bot of them have said they’re leaving Soon. That could potentilly leave a freshly confirmed chairman Alone atop the agency.

But if quintenz’s nomination is Abandoned or Significantly Delayed, People Familiar with Acting Chairman Phams Phams Suggest She’s Eager to Move on, Pottency If she banies to chair the commission, it raises quests about what happles next – WHETHER President Trump would be under pressure Agency woldn’n be taken over by a democrat’s agnda, and how long the cftc May be with a kairman.

The Senate Is Heading Into Its August Recess, Leaving It Washington Work Behind for A While. Even If Things Get Back On Track, His Final Confirmation Vote by the Overall Senate Could Be Further Delayed.

If quintenz does Continue Through the Process and Become Chairman, Some Legal Experts Have Cast Doubt on the Strength of Policymaking from

“I Think WHEN Looking at the Quorum Rules, The Agency Can Still Act,” Former Cftc Commissioner Christy Goldsmith Romero Told Coindesk TV in a Thursday Interview with Jennifer. “But is that Best Way to Act?”

She suggested the potential investors in the Space – Including from Traditional Financial Institutions – “They ALL GOING TO WANT Some CERTAINTY.” And that can be provides, she said, by the white hoes nominating more names and getting a full commission confirmed by the Senate, “But We Haven’t Seen that, Yet.”

WHEN QUESTIMOTED ABOUT The VALUE OF HAVING BOTH PARTIES REPRESENTED ON The Commission During his Confirmation Hearing, Quintenz Declined to Second-GuESS Trump’s Nomination Process.

“The President is the Head of the Executive, and the President Will Make His Own Decisions,” He Said.