Commissioner Brian D. Quintenz, long a voice in support of responsible Fintech innovation at the Commodities Futures Trading Commission (CFTC), has issued a statement regarding his forthcoming exit from the regulator.
Quintenz’s term expired in April of 2020 but said he would not seek another term while indicating he would remain at the CFTC until a replacement was identified. Today, Quintez indicated it was time for a change and he will depart the CFTC as a Commissioner on August 31st, 2021.
Quintez was the sponsor of the CFTC’s Technology Advisory Committee (TAC), where the Commission reviewed the ongoing digital transformation of financial services including the emergence of digital assets.
Quintez said that one of his top priorities as a Commissioner has been to ensure that the CFTC focuses on not applying a one-size-fits-all regulatory approach from the agency.
Quintez commented on the role of the CFTC regarding digital assets:
“During my term, the CFTC has overseen the listing of Bitcoin futures contracts; the custody of digital assets within the traditional clearing infrastructure; the proliferation of blockchain technology; the creation of cryptographic, tokenized commodities; and the rapid expansion of decentralized finance (DeFi), which purports to realize the ultimate transparency-competition-innovation-reward dynamic of a true free market. In addition, the TAC and its subcommittees have explored the evolution of state-of-the-art risk control mechanisms at exchanges and firms, cryptographic proofing mechanisms, digital asset trading platform self-regulation standards, and scalable cybersecurity programs. I look forward to keeping innovation, particularly related to crypto and DeFi, relevant to my career and will continue advocating for the freedom, innovation, inclusion, and prosperity they offer.”
Quintez did not comment on any future professional opportunities.