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CFTC Chair nominee Quintenz faces scrutiny as lawmakers call for investigation into conflicts of interest.
[Chain News] On August 5, Nevada Democratic Representative Dina Titus sent a letter to CFTC Acting Chair Caroline Pham, requesting an investigation into CFTC Chair nominee Brian Quintenz. Quintenz is awaiting a nomination vote from the Senate Agriculture Committee, but that vote has been canceled twice in the past month, with the second cancellation occurring at the request of the White House. Some individuals in the encryption industry have expressed concerns about Quintenz's nomination, and Titus pointed out that his position on the board of the prediction market company Kalshi is controversial. Although Quintenz stated that he would resign upon confirmation, he remains under scrutiny.
In addition, experts have requested through the Freedom of Information Act to discover that a partner of Quintenz may have sought non-public information from the CFTC regarding the approval process for one or more "designated contract markets," which, once approved, will compete with Kalshi.
Earlier this year, Trump nominated Quintenz to lead the CFTC, an agency that plays a key role in cryptocurrency regulation. If Quintenz is elected, he will join the CFTC, which is currently undergoing a leadership transition. Titus emphasized that the public needs to have a comprehensive understanding of his involvement in regulating related interests, expressing concerns about his ability to comply with ethics and conflict of interest regulations.