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President Trump released a fresh batch of cabinet nominations late last week and among them are two names familiar to the crypto industry: Brian Quintenz and Jonathan Gould.
Quintenz is being tapped to run the CFTC and Gould is Trump’s pick for comptroller of the currency. Neither nomination hearing has been scheduled yet.
Quintenz served under Trump as a CFTC commissioner from 2017 to 2021. Most recently he’s been the policy lead at a16z crypto. Republican Commissioner Caroline Pham, also seen as a crypto advocate, has led the agency since Trump’s inauguration.
Quintenz mentioned crypto in a post on X last week thanking Trump for selecting him.
“The agency is also well poised to ensure the USA leads the world in blockchain technology and innovation,” Quintez wrote. “I look forward to working with President Trump’s incredible financial regulatory team.”
“Looking forward to more SEC-CFTC cooperation,” SEC Commissioner Hester Peirce replied, adding that “this time” the agencies will focus on crypto.
Gould most recently practiced at Jones Day, a law firm that has represented Trump’s campaign. He served at the OCC as 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 fired up for a few reasons. First, these are two major positions in the financial regulation space — a space that in recent years has taken a harsh approach to crypto.
The OCC specifically supervises US banks, a sector of the financial industry many crypto companies have felt ignored by. These frustrations were brought to light during recent Congressional hearings unpacking so-called “Operation Chokepoint 2.0.”
Much of the crypto industry has also 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 a market structure bill makes it over the finish line. Plus, Peirce’s comments signal that the agencies are not looking to get involved in a turf war.
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