The former Commodity Futures Trading Commission official will be handling regulatory issues as congressmen are now actively drafting several bills for the crypto industry.
Cryptocurrency venture capital firm Andreessen Horowitz (a16z) has announced that it has hired former CFTC commissioner Brian Quintenz as head of policy. He previously served as Senior Advisor to a16z, overseeing the listing of Bitcoin (BTC) futures contracts and the creation of tokenized commodities.
According to the announcement, Quintenz was useful in his previous position, but a16z management decided to transfer the employee to a new position due to increased government regulation, where he will keep in touch with regulators. Now, according to the company, US legislation is in an extremely uncertain state in relation to the crypto industry.
“The House of Representatives and the Senate are actively working on several bills that look promising. The activity of the SEC and the CFTC also increased – regulators united against the backdrop of market turmoil. We believe that now is the perfect time to create effective legislation for cryptocurrencies, ”Anthony Albanese, managing partner at 16z, explains the reshuffle.
Earlier, CFTC Commissioner Kristin Johnson said that the events around the FTX exchange were part of a continuous stream of bankruptcies of cryptocurrency companies and called for tighter regulation.
Source: Bits
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