Compared to the change in personnel with Powell, perhaps we should pay more attention to the appointment of the CFTC (Commodity Futures Trading Commission) chairman, after all, he holds the power of life and death over crypto ETFs. If Brian Quintenz becomes the CFTC chairman, it will be a key switch for the U.S. crypto market to upgrade from wild growth to institutional cycles. 🧐
Brian Quintenz has been nominated as the CFTC chairman, which is a crucial step for the crypto market. He previously served as a CFTC commissioner from 2017 to 2021, appointed by Trump, during which he promoted the release of the first #BTC and #ETH futures contracts, facilitating the compliance of crypto derivatives.
After that, he joined #a16z as the global policy head, participated in the board of Kalshi (event market), and provided advice to the Crypto Council for Innovation.
He himself stated, "The CFTC should support the U.S. in becoming a blockchain innovation center," and emphasized that "a clear regulatory framework should be provided for digital asset legislation." It can be said that he is a staunch supporter of crypto policy!
📈 Why is this particularly important for the crypto market?
1️⃣ Clear policy direction signal — CFTC will be the key regulatory agency
The new wave of U.S. policy trends tends to hand over non-securities crypto assets to the CFTC for management, rather than the SEC. The nomination of Quintenz means that future regulations may be more directional and friendly: supporting industry innovation and strongly supporting the issuance of crypto ETFs.
2️⃣ More likely to promote clearly structured regulatory rules
Quintenz has a clear inclination to establish a quantitative, principle-oriented, risk-rated regulatory system for digital assets, rather than a one-size-fits-all approach. The technical advisory committee he previously chaired was promoting this kind of thinking.
3️⃣ Ethical stance is very clear
He was a director at Kalshi, which recently had entanglements with the CFTC. He has committed that if confirmed, he will withdraw from related interests and avoid topic decisions. This reassures me that he will strive to maintain independent judgment in regulatory positions.
However, his confirmation process has been delayed twice by the White House, indicating that there are still some initial obstacles, but I believe the outcome will be smooth, after all, the U.S. is a capital-dominated market.
In fact, for us crypto investors, the appointment of Brian Quintenz will inevitably boost confidence in the crypto market and bring long-term benefits, accelerating the U.S. legislative process to clarify which tokens are "commodities" and which are "securities," which is beneficial for exchanges, the legalization of stablecoins, and ETF approvals. Additionally, it will accelerate the influx of institutional funds; Brian Quintenz, familiar with the policy process, can promote the landing of more compliant products, such as CFTC-led compliant trading of derivatives and approval of derivative contracts.
From the perspective of investor protection, future project requirements will be clearer and stricter: the CFTC will pay more attention to price discovery, fraud prevention, margin system design, etc. If project parties comply properly, they may gain faster access.
In summary, Quintenz's nomination is a triple signal of policy "normalization" + clearer market predictions + stable industry expectations, marking a cyclically important node. 🧐
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