Bitcoin News- Quintenz is now an adviser partner at Andreessen Horowitz.
- Upon leaving the CFTC, he supervised the listing of BTC futures contracts in the U.S.
Former CFTC Commissioner Brian Quintenz has acknowledged that the cryptocurrency sector has valid complaints about the Securities and Exchange Commission (SEC). But he does not attribute these complaints to the act of regulating the industry.
In an interview at Mainnet 2022, the former CFTC (Commodity Futures Trading Commission) commissioner explained why some are turning to the CFTC for a new approach to the regulatory environment for cryptocurrencies.
According to Quintenz:
“I think what the crypto ecosystem wants is rules that fit its technology, that are fit for purpose, that allow for the innovation to actually reach its full potential. You’re not getting that out of the SEC.”
Imposing Obligations
According to a statement he released upon leaving the CFTC. He supervised the listing of Bitcoin futures contracts in the U.S. and the establishment of tokenized commodities, among other advances in the crypto space. Furthermore, a member of Andreessen Horowitz’s crypto team, Quintenz is now an adviser partner at the company.
Quintenz further added:
“They reached out to me after I left the agency because they knew that policy, regulation, legislation was going to be a major focus of the crypto ecosystem and how to protect it.”
It has been suggested by Quintenz that certain government bodies have chosen a more adverse change attitude toward crypto. Rather than clearing the way for new technologies to be implemented.
When asked about the implications for businesses of classifying cryptocurrencies as securities. He stated doing so would be “imposing obligations on parties that have no way to meet those obligations.”
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Source: https://thenewscrypto.com/former-cftc-commissioner-backs-crypto-sector-over-sec/