Brian Quintenz Will Supposedly Leave the CFTC by the End of the Month

After extending his stay at the CFTC twice since early 2020, Commissioner Brian Quintenz is reportedly resigning.

The Wall Street Journal reported that the statement of Brian Quintenz for his plans to switch from the Commodity Futures Trading Commission (CTFC) to the private sector is expected by the end of August.

Already a known crypto advocate, Quintenz indicated that he would be focusing on crypto and DeFi innovation.

Brian Quintenz was initially appointed to the position by former US President Barack Obama in 2016 and again by Former President Donald Trump in 2017.

Quintenz extended his position at the CFTC first until another commissioner would be nominated or until October of last year, and the second time while waiting on confirmation from the United States Senate.

Quintenz was quite known for his crypto-friendly attitude across the industry and the CFTC where earlier this month, he argued that the obligation for regulating the crypto industry falls under the jurisdiction of the CFTC and not the SEC.

He also encouraged the stakeholders of the industry to suggest a framework for self-regulation.

The next CFTC Commissioner is expected to be appointed by US President Joe Biden. 

Also read: Nvidia Underperforms in Q2 as Mining GPU Sales Predictions Fall Short