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CFTC Chairperson Nominee: If the CFTC gains more cryptocurrency regulatory authority, additional funding will be required

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2025-06-11 00:21:56
Brian Quintenz, Trump's pick for chairperson of the US Commodity Futures Trading Commission (CFTC), said at a Senate hearing that the CFTC would need additional funding if it were to gain more regulatory authority over cryptocurrencies. A number of senators agreed, with Minnesota Democratic Senator Amy Klobuchar stressing that the CFTC needs to have sufficient personnel and resources to meet emerging challenges.
Quintenz was formerly the global head of policy for the a16z crypto fund and served as a CFTC commissioner from 2017 to 2021. If the nomination is approved, he will become the only sitting commissioner of the CFTC. The remaining four commissioners have recently left or announced plans to leave. The current US Congress is considering bills that could expand the CFTC's digital asset regulatory powers. The agency currently has fewer than 1,000 employees, far below the SEC's 4,000.
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