U.S. CFTC Chair Nominee Brian Quintenz Stresses Need for Clarity in Virtual Asset Regulation

Brian Quintenz, nominated as the next Chair of the U.S. Commodity Futures Trading Commission (CFTC), has stated his intention to provide clear regulation for virtual assets (cryptocurrencies).

According to The Block on the 10th (local time), Brian Quintenz said in a statement, "Now is the time for a clear regulatory framework for virtual assets," adding, "I am fully prepared to draw on my experience and expertise to support this." He further remarked, "We will clearly define the classification of virtual assets and clarify the jurisdiction for market supervision."

He also expressed a positive stance toward virtual assets. He said, "Blockchain and virtual assets will not disappear," and, "They allow individuals to have digital intellectual property rights and digital identity." Additionally, he emphasized, "The CFTC will focus on both risks and innovation," and added, "We will adhere to a zero-tolerance policy toward market manipulation."