Crypto Lobby Pushes for Regulator in Standoff With Senate

The U.S. Commodity Futures Trading Commission (CFTC) nominee Brian Quintenz is seeking support from crypto industry leaders as his Senate confirmation process remains in limbo. His confirmation vote, initially scheduled in July 2025, was postponed after the White House requested a delay. With the Senate in recess, progress is unlikely before September. Quintenz has been meeting with key stakeholders, including prominent crypto associations such as the Chamber of Digital Commerce and the Blockchain Association, to garner backing for his nomination [1]. These groups have drafted a letter to President Donald Trump, emphasizing Quintenz’s “deep expertise, sound judgment, and integrity” and advocating for the resumption of his Senate vote [1].

Quintenz, if confirmed, would lead the CFTC at a pivotal moment in the evolution of U.S. crypto regulation. As a former CFTC commissioner from 2017 to 2021, he played a key role in the agency’s oversight of Bitcoin and Ether futures contracts and advocated for a balanced regulatory approach between the CFTC and the Securities and Exchange Commission (SEC). His experience in navigating the complexities of digital assets and derivatives markets has positioned him as a potential bridge between industry innovation and regulatory clarity [1].

However, Quintenz faces opposition from several quarters. Tribal groups, casino lobbyists, and the National Council on Problem Gambling have raised concerns about his current role as a board member at Kalshi, a prediction market that is pushing for expansion into sports betting. These groups argue that this position could create a conflict of interest, as prediction markets may serve as a loophole to evade state gambling regulations. In response, Quintenz has pledged to resign from Kalshi if confirmed as CFTC chairman [1].

Internal CFTC concerns have also emerged, particularly regarding Quintenz’s potential staffing choices. Emails obtained through a Freedom of Information Act request revealed concerns that his proposed chief of staff, Kevin Webb, had sought to rehire personnel previously cut under “reduction in force” measures. This has raised questions about Quintenz’s approach to staffing and budget expansion, which some view as at odds with the Trump administration’s broader agenda of reducing government operations and costs [1].

Despite these challenges, industry stakeholders and trade associations continue to rally behind Quintenz. The outreach efforts highlight the broader strategic importance of the CFTC in shaping the regulatory landscape for crypto derivatives and futures. Quintenz has emphasized the need for clear, investor-protective rules that do not stifle innovation, a stance that aligns with recent SEC reforms aimed at expanding access to alternative investments for retail investors. His approach reflects a growing consensus that regulatory frameworks must evolve in tandem with the rapidly changing nature of digital assets [2].

The CFTC’s role in overseeing crypto markets has become increasingly critical as the SEC under Chair Paul Atkins focuses on refining rules for digital assets and expanding access to private investments. Quintenz’s nomination could play a key role in reinforcing the U.S.’s position as a global crypto capital, particularly as the Trump administration moves to allow crypto assets in 401(k) retirement plans. The confirmation of a regulator who understands both the risks and opportunities of the crypto sector will be essential in ensuring market stability and investor confidence [1].

Source: [1] CFTC nominee Brian Quintez reaches out to the crypto KOLs (https://www.cryptopolitan.com/cftc-nominee-quintez-reaches-out-crypto-kols/) [2] CFTC Nominee Brian Quintez Seeks Crypto Industry Backing (https://financefeeds.com/cftc-nominee-brian-quintez-seeks-crypto-industry/)