American President Donald Trump’s nominated Bryan Quintens to preside over the Commodity Futures Trading Commission (CFTC) said that blockchain is a fundamental technique that is ready to change much more than just finance.
In the prepared comments prepared next to the confirmation of its Senate shared with cointelegraph, Quinance indicated the long -term effects of blockchain and cryptocurrency. “I see blockchain as a horizontal technique that has the ability to touch every aspect of society,” he said.
Quintens, who recently served as a global major policy in the A16Z Crypto (Digital Asset Arm of Andresen Horovitz), also referred to the importance of a comprehensive regulatory structure for Crypto markets.
He said that his global experience has given a clear attitude about attachment to regulators and government officials that the Crypto regulatory structure has not been worked in crafting, insight to bring into American policy making.
“As the Congress considers the new spot market regulatory authority on Crypto Asset Markets, I am fully prepared to provide benefits of this experience to the members of this committee and the Congress,” he said.
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Quintage pledge to keep bad actors out
Quintens did not see words on the dangers of weak oversight. He warned that the leadership of the United States in blockchain innovation would be destroyed by allowing bad actors and fraudsters to uncontrollably.
He also emphasized the need for a comprehensive regulatory structure that clearly defines token classifications and assigning oversight responsibilities for the Crypto trading markets, arguing that such clarity is necessary to save users and promoted the ongoing innovation.
Beyond Crypto, Quinance promised to maintain the CFTC role as a global leader in market innovation and inspection. He pointed to his former service as the CFTC Commissioner, where he was unanimously confirmed in 2017, and reiterated his commitment to risk-based regulation, domestic and international harmony and strong customer security.
He confirmed his support for CFTC’s statutory mandate to promote responsible innovation. He said, “CEA’s principles-based approaches have been created for regulation and self-proclaiming structure that continues with integrity,” he said.
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CFTC faced leadership zero
Quintage’s Senate hearing comes as MPs as CFTC is pushed to give more power Crypto through clarity actWhich will create a “digital commodity” range and will give the agency extensive powers to regulate Crypto.
However, there are concerns On whether the agency has leadership capacity To fulfill that challenge, as a commissioner seat remains incomplete and many others prepare to get out.
Last week, two of the remaining four CFTC commissioners, Republican Summer Merceder And Democrat Goldsmith RomeroDeparted from the commission. The rest of the Republican Commissioner, Caroline Fam, has also said that it will leave Quintage on swearing in.
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