The Crypto Council for Innovation (CCI) and the Blockchain Association jointly published a letter on August 20, approving Brian Quintenz for the President of the Commodity Futures Trading Commission (CFTC).
In the letter to President Donald Trump, groups stressed that Quintenz’s confirmation is essentially essential to advance the agenda of his administration to promote a “golden age” for digital assets in America.
According to the group:
“Each of our organizations has had the privilege of knowing and working with Mr. Quintenz in the first hand, and we can attest to his in -depth expertise, his solid judgment, his proven leadership and his integrity.”
They also noted that Quintenz’s experience positions it to guide the CFTC at a decisive moment for the American financial markets and the wider digital asset ecosystem.
Their approval has also integrated it as unique to implement regulations that support responsible innovation, safeguard market integrity and maintain American economic competitiveness.
They wrote:
“The in -depth experience of Mr. Quintenz and the substantial and technical understanding of blockchains, digital assets and financial markets make it exceptionally well suited to direct the CFTC at this critical stage.”
Quintenz, who was appointed in February, saw his confirmation vote delayed after concerns were presented on conflicts of potential interests, highlighted by notable industry figures such as the co-founders of Gemini Tyler and Cameron Winklevoss.
Hike against bankers
The same coalition also opposed a recent initiative of American banks to modify the provisions of the Genius Stablecoin Regulation Act.
In a letter of August 19, the groups argued that the proposed changes would create a non -competitive environment favoring banks while limiting the broader growth of industry, innovation and the choice of consumers.
Last week, the Bank Policy Institute (BPI) and other banking groups urged the legislators to remedy what they have described as a legislative difference which prevents exchanges and affiliated companies from offering indirect yields on stablescoins.
Traditional financial institutions have warned that this gap could lead to up to 6.6 billions of dollars in traditional banking sector in digital assets.
However, cryptographic organizations have replied that payment stables work in separate executives and should not be treated as banking products.
They stressed that the authorization to allow regulated platforms to share advantages with customers is “a functionality that promotes financial inclusion, promotes innovation and ensures American leadership in the next generation of payments”.
