Former Commodities Futures Trading Commission (CFTC) Commissioner Brian Quintenz has joined a16z Crypto in a full-time role as its new Head of Policy.
a16z Crypto is a leading VC operation investing in blockchain-based platforms, including Web3.
While at the CFTC, Quintenz led the Commission’s Technology Advisory Committee, which tackled topics like crypto markets.
a16z stated:
“Brian’s past experience leading the CFTC’s Technology Advisory Committee, and his work over the last year with founders, policymakers, and regulators have made him a trusted voice in the web3 legislative landscape.”
The VC added that they have long called for legislation, and Quintenz has been vital in helping them manage the “complexity” of Washington, DC.
“This is a critical time in web3’s history as policymakers in DC take a close look at the future of crypto. With the new Congress taking office in just a couple of weeks, we couldn’t be more excited to have Brian starting today in his new full-time role to lead our efforts on Capitol Hill and join our growing policy team.”
While critics accuse financial regulators of either being asleep at the wheel or regulating by enforcement, regulators claim that they can only act on occurrences of fraud, but they simply do not have the statutory authority to regulate digital assets. If this is the case, the responsibility lies with Congress to craft legislation that will assign responsibility and a regulatory remit for the various financial regulators. As is not atypical, Congress has been slow to act.
