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Ripple CEO Comments On Brian Quintenz’s Nomination For CFTC Role

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10 hours ago

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Ripple CEO Brad Garlinghouse has acknowledged the nomination of Brian Quintenz for the role of Chairman of the Commodity Futures Trading Commission (CFTC). In a social media post, Garlinghouse emphasized the importance of the CFTC in maintaining the strength of U.S. capital markets and congratulated Quintenz on his nomination.

Ripple CEO Reacts to Brian Quintenz’s Nomination for CFTC Chairman Role

In a post on the X platform, Ripple CEO Brad Garlinghouse replied to a tweet from Brian Quintenz, congratulating him on his nomination as the next Chairman of the Commodity Futures Trading Commission (CFTC). Garlinghouse emphasized the role of the CFTC in ensuring the strength of U.S. capital markets and expressed support for Quintenz’s appointment. His acknowledgment comes amid increasing discussions about regulatory oversight in the cryptocurrency industry.

Brian Quintenz has been nominated by former President Donald Trump to lead the CFTC. His prior experience in the CFTC gives him an understanding of market structures and crypto regulations.

Garlinghouse’s comments reflect Ripple’s ongoing engagement with regulatory matters. The company has been involved in legal disputes with the U.S. Securities and Exchange Commission (SEC) over whether its XRP token qualifies as a security.

Given that the CFTC oversees commodity and derivatives markets, Quintenz’s leadership will bring discussions on the classification of digital assets.

A recent CoinGape report highlighted that Quintenz’s appointment as CFTC Chair could benefit the crypto industry due to his extensive experience in digital asset policy. His background at a16z and past advocacy for crypto derivatives suggest a regulatory approach that supports innovation

Experience in Financial Regulation

Brian Quintenz, a former CFTC Commissioner, helped shape policies on derivatives and emerging financial technologies. His work at the agency focused on promoting innovation while ensuring compliance with regulatory requirements. His experience in financial markets and digital asset regulations positions him as a knowledgeable figure in the evolving crypto regulatory landscape.

After his tenure at the CFTC, Quintenz joined Andreessen Horowitz (a16z) as the head of crypto policy. At a16z, he worked on regulatory frameworks to support blockchain and digital asset development. His work in finance and crypto has influenced discussions on balancing growth with regulation.

Impact On The Crypto Industry

Brian Quintenz’s experience in traditional finance and crypto will help shape clear digital asset policies. His previous statements suggest he supports regulatory clarity and frameworks that encourage market development.

The cryptocurrency industry has been advocating for well-defined regulations, particularly in distinguishing between securities and commodities. The CFTC has been seen as a more favorable regulator for digital assets compared to the SEC.

If confirmed, Quintenz’s leadership will provide further direction on how digital assets are regulated under the agency’s jurisdiction.

Meanwhile, there have been rumors that Ripple CEO Brad Garlinghouse could be appointed to Donald Trump’s crypto advisory board, sparking speculation about his future at Ripple. As discussions grew, the crypto community speculated whether he must resign as Ripple CEO if he accepted the role.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Regulation

US SEC and CFTC to Joins Hands In Trump Administration

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2 hours ago

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February 13, 2025

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The latest reports suggest that the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will work together on crypto regulations. The development came only when a16z crypto policy chief, Brian Quintenz, officially joined as the CFTC chair.

US SEC and CFTC Explore Collaborative Framework for Crypto Regulation

Fox Business journalist Eleanor Terret stated that the two top regulatory agencies – US SEC and CFTC – are in major discussion to enhance collaboration in crypto regulations. It shows that regulators in the Trump administration are prioritizing digital assets more.

As per the reporter, one proposal currently under consideration is reinstating the CFTC-SEC joint advisory committee charter, originally established in 2010 to address shared regulatory challenges. Since 2014, this committee has been inactive, however, this revival could pave the way for a structured platform for addressing issues in the rapidly evolving crypto space.

Last year, the acting CFTC chair Caroline D. Pham called for the advisory committee’s reformation. She emphasized it as a strong step toward fostering a cooperative regulatory approach to digital assets in the U.S.

The current development signals potential alignment between two regulatory agencies to address the inherent challenges in the digital assets space and develop meaningful crypto regulations.

Crypto Mom Hester Pierce Asks Brian Quintenz for Collaboration

On Wednesday, a16z crypto policy chief Brian Quintenz was officially appointed as the chairman of the US CFTC. In his message on the X platform, Quintenz wrote:

“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”.

Brian Quintenz appointment as the CFTC chair could be a game-changer for the crypto industry considering how closely he has worked in this sector over the past few years. SEC Commissioner Hester Pierce, also popular as crypto mom, has called for joint collaboration between the two agencies, to work on crypto-related matters.

She wrote: “Congratulations Brian Quintenz. Looking forward to more SEC-CFTC cooperation. Last time it was Dodd-Frank Title VII. This time crypto”. Hester Peirce has been leading SEC’s crypto task force in a push for bringing clear crypto regulations. Similarly, the CFTC has already announced plans to host a CEO forum featuring key stakeholders, including Ripple, Coinbase, and Circle, as part of its crypto pilot program initiative.

Industry Awaits Decision on SEC Chair, Hopes for Paul Atkins

While pro-crypto Mark Uyeda is currently serving as the acting chair of the US SEC, the industry is looking forward to having crypto-friendly Paul Atkins as the chair. Paul Atkins serves as a board member for Securitize, a company that facilitated the tokenization of Exodus’s shares on the Algorand blockchain for trading on the NYSE.

Thus, he holds a good grasp of the crypto industry and could work proactively in building a crypto regulatory framework. In a previous message, Ark Invest CEO Cathie Wood said: “Incoming SEC Chairman Paul Atkins will free digital assets from Gary Gensler’s chokehold and protect private property rights in the digital world”.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Hester Peirce Confirms SEC Rethinking Approach to Crypto Cases

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1 day ago

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February 11, 2025

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The U.S. Securities and Exchange Commission (SEC) is reconsidering its stance on crypto regulation as it reviews past enforcement actions. Commissioner Hester Peirce has confirmed that the agency is moving toward a different approach in handling cases against crypto firms.

During a recent interview, Peirce acknowledged that enforcement had been the primary tool for shaping crypto regulation in recent years. She emphasized that the SEC is now focusing on using other regulatory mechanisms to establish clear guidelines for digital assets.

US SEC Reviewing Crypto Regulation Strategy

The US SEC has relied heavily on enforcement actions to regulate the crypto industry. However, Hester Peirce stated that this method is not typical for policymaking. She explained that the agency is working to shift toward a more structured crypto regulation framework.

“During the past several years, enforcement cases have been used as a way to make regulatory policy; that is very atypical,” Peirce said. “We’re trying to get back to a path where we’re really using our other tools to make policy.”

The SEC’s recent decision to request a pause in its lawsuit against Binance reflects this shift in approach. The agency, Binance, and its co-founder Changpeng Zhao have asked for a 60-day stay in the litigation. The SEC stated that the work of a newly formed crypto task force could influence the case’s outcome.

Hester Peirce Led New Crypto Task Force Taking Shape

Hester Peirce is leading the SEC’s crypto-focused task force, which aims to develop a clear regulatory framework for digital assets. This group is expected to assess which cryptocurrencies qualify as securities and determine the SEC’s jurisdiction in the crypto market.

The SEC’s reconsideration of its crypto regulation amid broader regulatory changes under the Trump administration. Shortly after taking office, President Donald Trump signed an executive order creating a group to advise on crypto regulation. The administration is also exploring the concept of a national crypto stockpile, which could affect the industry’s development.

Peirce’s involvement in crypto policy has earned her recognition in the industry. She has previously supported Bitcoin exchange-traded funds (ETFs) and opposed SEC enforcement actions against crypto firms. Because of this, she has been referred to as “Crypto Mom” by digital asset advocates.

SEC Lawsuits Under Review

The SEC has filed several lawsuits against major crypto companies, including Binance, Ripple and Coinbase. These cases have accused the firms of violating securities laws, misleading investors, and operating without proper registration.

Peirce did not confirm whether the SEC would dismiss any lawsuits but stated that each case would be reviewed individually.

“It’s facts and circumstances,” she said. “We’ll have to look at each case on its merits as we go forward.”

Moreover, requests have been made in other legal disputes involving the SEC and crypto firms. For example, in a separate case involving Lejilex, the SEC and the company have agreed to postpone oral arguments that were scheduled for February 20. The delay extends the decision timeline until at least April 11, 2025.

Concurrently, last year, the agency sued Coinbase, alleging it operated as an unregistered exchange. Other firms, including Ripple, have also challenged the SEC’s authority over crypto regulation.

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Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bank of England Chief Calls for Strict Stablecoin Rules: Details

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2 days ago

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February 11, 2025

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Bank of England Governor Andrew Bailey has emphasized the need for stringent regulations on stablecoins, distinguishing them from Bitcoin and other cryptocurrencies. Speaking at The University of Chicago Booth School of Business in London, Bailey addressed the evolving landscape of financial markets and the role of digital assets.

Bank of England Chief Urges Tougher Stablecoin Rules

Andrew Bailey, Bank of England Governor, stated that stablecoins require strict regulatory measures due to their role in payments. He described them as financial instruments that perform some functions of money but also share characteristics with mutual funds. Bailey emphasized that stablecoins need a clear framework to meet high regulatory standards.

Moreover, Bailey highlighted the difference between stablecoins and Bitcoin, noting that Bitcoin operates outside the banking system and remains a speculative asset. He clarified that Bitcoin is not a form of money but a high-risk investment option.

However, he acknowledged that investors might hold it as part of a diversified portfolio, provided they understand the risks.

However, Andrew expressed uncertainty about the incoming Trump administration crypto regulations. Comparing the development to the previous Biden administration, the BoE Governor commented,

“I think that the Biden administration, my impression is particularly the SEC, had got into a situation where it couldn’t get a regulatory framework and was using action through the courts. And that was becoming more challenging, frankly. So there is a gap there in terms of having a consistent regulatory framework, but we don’t know what that’s going to be.”

Digital Pound In Sight?

Additionally, the Bank of England is still evaluating the introduction of a central bank digital currency (CBDC) in collaboration with the UK government. Bailey stated that discussions are ongoing regarding the potential benefits of a digital pound in the financial system.

The governor compared the situation to early skepticism around smartphones, emphasizing the need to explore the advantages of digital payment innovations. The Bank of England is examining whether a digital pound would be necessary or if existing commercial bank payment systems could provide similar benefits.

These developments come as the Federal Reserve Chair Jerome Powell recently reaffirmed the central bank’s commitment to ending debanking practices. Powell indicated that the Federal Reserve plans to revise its Internal Implementation Handbook, removing a section that considers bank leaders’ “controversial” activities in performance evaluations.

Bitcoin and Stablecoins Regulatory Approach

Concurrently. Bailey explained that Bitcoin and stablecoins require distinct regulatory approaches. Bitcoin, according to him, is a speculative asset that does not function as money, whereas stablecoins have a direct connection to payment systems and require closer oversight.

He also pointed out that stablecoins, despite being backed by assets, lack full transparency. Due to their potential use in financial transactions, the Bank of England intends to impose strict regulatory measures to ensure consumer protection.

More so, the Bank of England is preparing to launch a “Digital Pound Lab” as part of its ongoing research into a CBDC. This initiative will contribute to the design and evaluation phase of a digital pound.

Meanwhile, the Hester Peirce-led US SEC Crypto Task Force has outlined its key objectives on a newly launched webpage, aiming to provide clearer regulatory guidance. The task force will distinguish securities from non-securities, establish practical disclosure frameworks, and create viable registration pathways for crypto firms.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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