Big SEC & CFTC Crypto Updates!👀
Significant updates coming from the CFTC and SEC which will have huge benefits to the crypto industry and asset class.
Hey Thinkers 💡
We’ve got major updates coming out of the two prominent regulatory agencies who oversee the crypto market.
🏛️ Major Regulatory Updates
📌 CFTC – Brian Quintenz Nominated as CFTC Chair
President Donald Trump has nominated Brian Quintenz, former CFTC Commissioner, to be the next Chairman of the Commodity Futures Trading Commission. Brian tweeted about the nomination:
"It is my great honor to be nominated by President Donald Trump as the next Chairman of the Commodity Futures Trading Commission, where I had served as a Commissioner in his last administration. The CFTC plays a critical role in maintaining robust hedging and price discovery markets that are the envy of the globe. The agency is also well poised to ensure the USA leads the world in blockchain technology and innovation. I look forward to working with President Trump’s incredible financial regulatory team."
I’ve interviewed Brian several times over the years, and I can say with confidence that he is sharp and deeply understands the markets, particularly crypto. In our September 2021 interview, Brian expressed his frustration with regulation by enforcement stating "I absolutely despise regulation through enforcement"—a sentiment that many in the crypto industry share.
👉 Watch the clip: https://x.com/ThinkingCrypto1/status/1435972991461036032
I believe Brian will make an excellent chairman and help to bring much-needed clarity to the crypto industry.
Former CFTC Chairman Chris Giancarlo and I did an interview last week where we discussed the potential for Brian to be the CFTC chair.
📌 SEC – Possible Shift Toward Resolution of Crypto Cases
In a surprising development, Binance and the SEC have filed a joint motion to stay the agency’s case against the exchange for 60 days. This decision comes as the SEC’s newly formed crypto task force could potentially affect how the case is resolved.
According to the joint filing:
“The work of this task force may impact and facilitate the potential resolution of this case.”
After the 60-day period, the parties will issue a joint status report to determine whether an extension of the stay is needed.
Fox Business’s Eleanor Terrett commented:
"I expect we’ll see other non-fraud cases (i.e. Ripple, Coinbase, Kraken, and others) follow suit in this manner."
This is a positive signal for the crypto market, indicating that the SEC is preparing to nullify or settle non-fraud cases from the Gary Gensler era. If this continues, it will build investor confidence and reduce concerns about regulation by enforcement.
📌 OCC – Jonathan Gould Tapped to Lead the OCC
In another significant move, President Trump has reportedly picked Jonathan Gould, a former Bitfury executive, to lead the Office of the Comptroller of the Currency (OCC). Gould previously served as Chief Legal Officer at Bitfury and was Senior Deputy Comptroller and Chief Counsel at the OCC.
According to Ron Hammond of the Blockchain Association:
"Trump’s reported move to tap Gould to lead the OCC will help the agency to work with lawmakers to move crypto bills."
This nomination signals an ongoing shift toward more crypto-friendly regulators, aligning the OCC with other agencies embracing blockchain innovation.
📈 What This Means for Crypto
With Brian Quintenz at the CFTC, a potential shift in the SEC’s approach to non-fraud cases, and Jonathan Gould leading the OCC, the U.S. crypto industry could be on the verge of unprecedented regulatory clarity and growth.
Expect to see new legislation passed this year that will further solidify the U.S. as a leader in crypto and blockchain innovation.
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