A new report says that Cameron and Tyler Winklevoss have asked President Trump to remove the appointment of Brian Quintenz as president of the CFTC. If these rumors are true, they highlight a key tension in cryptographic policy.
The Commission should have more authority on the regulation of cryptography, and Quintenz wishes to increase its budget to meet these challenges. In the past, Winklevosses have preferred weaker regulators, even if they are cryptographic allies.
Will Brian Quintenz direct the CFTC?
The CFTC is one of the main financial regulators of the United States, and recent resignations have reduced it to two commissioners.
President Trump has already appointed Brian Quintenz to be the next president of the CFTC, but his confirmation process has reached a lot of recent setbacks.
According to a new report of PoliticoWinklevoss twins urged Trump to find a new candidate.
When these delays started to occur, rumors circulated that the Quintenz board of directors in Kalshi can conflict with a CFTC appointment.
This new report, however, alleges that the co-founders of Gemini and cryptographic billionaires exert political pressure. Although Tyler Winklevoss initially supported Quintenz, this may have changed.
“Some say that these are concerns to count votes, while others indicate that making lobbying the American Gaming Association on the support of Quintenz in the markets of prediction. Still others cite an alleged discomfort expressed by industry actors like the Winklevoss twins” wrote Eleanor Terrett.
So why don’t the Winklevoss twins want Quintenz as a CFTC commissioner?
A key index can come from their reaction to accusations of suppression of the SEC against Gemini. As soon as the commission announced its decision, Cameron made a hostile declaration, asking for “serious consequences” for the actors of the application of the laws.
In other words, there are active legislative efforts to give the CFTC more authority on cryptographic regulations. Even as a friendly organization, it can still be too power.
The report noted that Quintenz has declared its objective to increase CFTC budgets to better manage new cryptographic responsibilities. The Winklevosses said it was “not aligned with Trump’s agenda.”
We saw a similar incident just a few months ago. Although the SEC has made a pro-Crypto switch closed, the Doge of Elon Musk have always reduced its operating capacity. Winklevosses may believe that a low CFTC is preferable to a strong CFTC under Quintenz.
To be clear, however, it is only a delay so far. The White House spokeswoman Liz Huston confirmed that “Brian Quintenz remains President Trump’s candidate to serve as president of the CFTC” and that Trump “awaits his rapid confirmation.”
Until Quintenz is officially confirmed, it could change, but it is a strong sign of confidence.
In short, there is a living tension between the opinions of different cryptographic factions on political power. Is a powerful ally of crypto better than a helpless opponent?
These questions have reached the dry transformations throughout the dry, and they can persist through the role of Quintenz at the CFTC.
Has the position made pressure from the Winklevoss twins to abandon his choice of CFTC chair? appeared first on Beincrypto.
