Defi News- Brian Quintenz will now serve as its full-time head of policy.
- Quintenz initially joined a16z in September 2021 as a senior adviser.
Andreessen Horowitz, better known as a16z, a crypto venture capital company, has announced that Brian Quintenz will now serve as its full-time head of policy.
After serving as a commissioner of the CFTC under both Obama and Trump. Quintenz initially joined a16z in September 2021 as a senior adviser. During his time at the CFTC, Quintenz supervised the introduction of tokenized commodities and the listing of Bitcoin futures contracts in the U.S. market.
Sensible Legislation Necessary
For 16z managing partner Anthony Albanese, the events of the last year in the crypto sector made it obvious that additional regulation is required in specific sectors of crypto and web3. Legislation, the structure of which has not yet been defined. Might have a major impact on web3’s potential, according to Albanese.
Moreover, Albanese said, a16z has always campaigned for and supported sensible legislation. But it has never been more necessary than now.
Albanese stated:
“With multiple bills being worked on in both the House and the Senate, the increased activity of the SEC and CFTC, and an overall consensus from the industry, we believe that the time is now for impactful legislation.”
According to Quintenz in September, he believes that the existing legal framework for cryptocurrency is too burdensome and that the stance of certain regulatory authorities on cryptocurrency is slowing down its widespread acceptance.
After Senator Elizabeth Warren of Massachusetts and Representative Alexandria Ocasio-Cortez of New York voiced worries in October that the cryptocurrency industry was significantly increasing its lobbying efforts and employing hundreds of ex-government employees, today’s report follows suit.
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Source: https://thenewscrypto.com/vc-giant-a16z-recruits-former-cftc-commissioner-as-head-of-policy/