President Donald Trump’s pickup US Commodities Watchdog Chairman, Brian Quinnage, made Crypto’s questions more than any other subject. Senate confirmation hearing On Tuesday, and he assured the MPs that the agency could run on a middle ground without any innovation and strong consumer security measures.
Even Quintenz waited for the Vote of the Senate Agricultural Committee whether the Commodity Futures Trading Commission is working on the market structure law to carry forward its nomination as the Chairman of the Training Commission, which can raise the agency as a marquet regulator of US crypto activity. Former CFTC Commissioner Quinance is not a stranger for the region who has served as the head of the policy of enterprise capital firm A16Z.
He said, “I have always seen the market structure law as an opportunity for both Pro-Customer Protection and Pro-in-Innovation at the same time,” he said to the senators weighing his nomination, which is eventually needed to approve by the overall Senate, before he could handle the Commission. He said that the bill “can provide clarity to buildings, entrepreneurs, new -intellectuals to develop products”, while also ensuring that regulated firms are properly protected users of those products.
Quintonz said, “Congress should make a suitable market regulatory rule to ensure that full promise of this technology can be felt, and I am fully prepared to use my experience and expertise so that even in executing any extended mission, it can be passed in the law as well as passed in the law,”
Quintens will join a commission that is being abandoned by the Commissioners. According to the law, CFTC has five members – with three in power – but the members are left or in the process of leaving, including the acting president Caroline Fam, who said that she is leaving when she starts quintanz work. Lone Democrat, Christon Johnson said she would “depart later this year,” leaving some uncertainty about her time. So Quintage can be served opposite a single democrats before working alone for any time, leaving a possible legal vulnerability for any unilateral policies.
Some of the Democratic senators noted that the Trump administration has systematically stripped the regulatory commissions of its Democratic members – the senator is described as the “political purse” described by Rafael Warnock – and asked Quinance if he would promote the White House to fill both sides of the roster.
“The President is the head of the executive, and the President will make his decisions. Quintage said. He later said,” I don’t tell the President what to do. ,
He said that the agency may require more money if it has been assigned a new task as a regulator of digital commodities spot markets, which would include bitcoin transactions
Quintens said that new employees would be made more efficient by “a technology-first approach” that makes employees more efficient.
Quintens also launched several questions on the prediction markets, another area that had a direct experience to him as a board member of Kalashi, who fought a legal battle with the CFTC on the regulation of the event contracts. He defended such event contracts as a suitable “hedging tool”.
“I believe the Commodity Exchange Act is very clear about the objective of derivative markets, the purpose of risk management and value search, and that events (contracts) can serve a function in that mandate,” he said.
Read more: Trump to tap for former CFTC Commissioner, A16Z Policy Head Brian Quinance for CFTC Head
