US President Donald Trump Brian Quintns, president of the A16Z Investment Capital Company, has chosen to work as the next president of the Futures Trading Committee for Basic Commodities.
This step indicates a major transformation in the regulation of encryption, as CFTC is expected to play a greater role in overseeing digital assets.
A familiar face CFTC is returned
Fox Business correspondent revealed the selection, citing three sources with direct knowledge of the decision. According to CFTC officials, this step confirmed, although there is no official advertisement from the White House. Acting CFTC Caroline D.
“I worked with Brian on important initiatives that led her to success when he was the CFTC I mentionedQuoted from Fam.
Quintns, CFTC Commissioner from 2017 to 2021, has long called for regulatory clarity in digital assets. Recently, he held the position of head of politics at A16z Crypto, the digital asset company of digital assets of digital assets.
His appointment comes at a time when CFTC is preparing to take over a more active role in shaping the regulatory environment of digital assets. CFTC has announced a series of upcoming discussions on the main aspects of regulating digital assets. Among the most urgent themes are the organization of Stablecoins and the Breed Digital Assets Structure.
Specifically, the committee plans to host a forum to discuss the StableCoin Severight, a round table on organizing the prediction market, and additional general meetings on the rules of digital assets.
These initiatives reflect the increasing concerns among policy makers about the need for clear and implemented criteria in the encryption space.
Legislative efforts to enhance the role of CFTC
Perhaps the most important change under Trump’s regulatory framework is to pay for CFTC, not The US Securities Commission (Securities and Stock Exchange Committee), bitcoin and orthodontic markets. These two digital matches represent about $ 2.2 trillion of market value, which is approximately 70 % of the global encryption market.
Former CFTC chair Christopher Giancarlo, who was called “Abi Chefiro”, supported this transformation. As Beincrypto mentioned, he argued that CFTC can better oversee these assets as digital commodities.
“With appropriate financing and under the right leadership, CFTC can reach the ground to start organizing digital goods on the first day of Donald Trump’s presidency,” Giancarlo, Giancarlo. He said newly.
In addition to Trump’s organizational vision, Congress weighs new legislation to redefine CFTC and SEC roles in digital control. The “Digital Assets Law” of the two parties, which was presented by a member of Congress at Tennessee John Rose, proposes a cooperative framework between the two clients.
According to this proposal, the Joint Consultative Committee includes 20 representatives in the private sector will help direct the regulation of encryption. They also guarantee that the sounds of industry are considered in the policy industry.
Despite the ambitious agenda, concerns about CFTC’s ability to deal with an extensive regulatory mandate remain. The agency is working on a An annual budget of $ 400 million He has approximately 700 employees, which is much lower than the SEC budget of $ 2.4 billion and 5300 employees.
CFTC will require a significant increase in the financing and expansion of employees to effectively oversee the Spot Crypto markets.
In addition, some traditional stakeholders in CFTC, such as agricultural commodities dealers, are concerned about the potential impact of regulating digital assets on the agency’s basic functions. Legislators must address these concerns to ensure the two parties support for any organizational expansion.
Disintegration
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