tl;dr
The Crypto Council for Innovation and the Blockchain Association endorsed Brian Quintenz for Chairman of the US Commodity Futures Trading Commission, urging President Trump to confirm him promptly to support a "golden age" for digital assets. They praised Quintenz's expertise, leadership, and integr...
The Crypto Council for Innovation (CCI) and the Blockchain Association jointly issued a letter on August 20 endorsing Brian Quintenz for Chairman of the US Commodity Futures Trading Commission (CFTC). Addressed to President Donald Trump, the groups emphasized that Quintenz's prompt confirmation is critical to advancing an administration agenda aimed at fostering a “golden age” for digital assets in America.
They highlighted their firsthand experience with Quintenz, attesting to his deep expertise, sound judgment, proven leadership, and integrity. His background positions him to guide the CFTC during a decisive moment for both US financial markets and the broader digital asset ecosystem. The endorsement framed him as uniquely equipped to implement regulations that support responsible innovation, safeguard market integrity, and maintain American economic competitiveness.
Quintenz, nominated in February, experienced a delayed confirmation vote following concerns over potential conflicts of interest raised by industry figures, including Gemini co-founders Tyler and Cameron Winklevoss. Despite these challenges, supporters maintain that his substantive and technical understanding of blockchains, digital assets, and financial markets makes him exceptionally well-suited to lead the CFTC at this critical juncture.
In related developments, the same coalition opposed recent banking initiatives to amend the GENIUS Stablecoin Regulation Act. In a letter dated August 19, they argued that proposed changes would create an uncompetitive environment favoring banks, restricting industry growth, innovation, and consumer choice.
The Bank Policy Institute (BPI) and other banking groups had urged lawmakers to close what they described as a legislative gap preventing exchanges and affiliated firms from offering indirect yields on stablecoins. They warned this gap risks moving up to $6.6 trillion of deposits from traditional banks into digital assets.
Countering this view, crypto organizations stressed that payment stablecoins operate under distinct frameworks, different from bank products. They argued that allowing regulated platforms to share benefits with customers promotes financial inclusion, fosters innovation, and ensures American leadership in the next generation of payments.