Trump Nominates Crypto Insiders for Key Financial Posts

President Trump has nominated two individuals with ties to the cryptocurrency industry for key financial regulatory positions. Brian Quintenz, a former CFTC commissioner, has been tapped to lead the agency once again, while Jonathan Gould, a former OCC chief legal officer, is Trump's pick for comptroller of the currency.

Quintenz, who served as a CFTC commissioner from 2017 to 2021, is currently the policy lead at a16z crypto. In a post on X, he expressed his excitement about the opportunity to work with Trump's financial regulatory team and ensure that the US leads the world in blockchain technology and innovation. SEC Commissioner Hester Peirce replied, indicating that the SEC and CFTC would focus on crypto cooperation this time around.

Gould, who most recently practiced at Jones Day, a law firm that has represented Trump's campaign, previously served as the OCC's chief legal officer during Trump's first term. Prior to Jones Day, Gould had a brief stint as the chief legal officer of Bitfury, a crypto infrastructure company.

The crypto industry is enthusiastic about these nominations for several reasons. First, these are two major positions in the financial regulation space, which has historically taken a harsh approach to crypto. The OCC, specifically, supervises US banks, a sector of the financial industry that many crypto companies have felt ignored by. These frustrations were highlighted during recent Congressional hearings on "Operation Chokepoint 2.0."

Additionally, the crypto industry has recently advocated for Congress to give more power to the CFTC to oversee the crypto industry. With Republicans in control of both chambers, this could be the year that a market structure bill makes it over the finish line. Peirce's comments also signal that the agencies are not looking to get involved in a turf war.