HomeCryptoAndreessen Horowitz Hires Former CFTC Commissioner Brian Quintenz To Bolster Regulatory Expansion

Andreessen Horowitz Hires Former CFTC Commissioner Brian Quintenz To Bolster Regulatory Expansion

A16z, the cryptocurrency arm of main enterprise capital agency Andreessen Horowitz, has introduced that it has employed former commissioner of the US CFTC, Brian Quintenz, to advise the agency on insurance policies about crypto investments.

Webp.net-resizeimage (13).jpg

Andreessen Horowitz common accomplice Katie Haun talked concerning the growth and stated the appointment is a part of a broader effort to make sure the agency has help in place for regulatory and coverage issues.

 “We are grateful that Brian is joining the team to help in our work of translating crypto for the policy community. He understands both how crypto technology works and how the CFTC thinks about the issue. His ability to translate between the two will be central to the success of a16z’s Crypto policy program and our portfolio companies.” Haun stated.

In the brand new position, Quintenz will likely be becoming a member of many former US federal regulators at the moment working for Andreessen Horowitz, together with former senior advisor to President Biden Tomicah Tillemann, former Under Secretary of the U.S. Treasury Brent McIntosh, and former U.S. Securities and Exchange Commission official Bill Hinman.

The transfer by Andreessen to rent such outstanding, former regulators alerts that the enterprise capital agency is stepping as much as navigate higher the rising regulatory challenges within the U.S. cryptocurrency scene and to satisfy the extra aggressive calls for of the US regulators this yr.

SEC Ready Regulate Crypto

Andreessen Horowitz is a number one enterprise capital agency that has been investing in a number of main cryptocurrency companies, together with Uniswap, Solana, Robinhood, CryptoKitties, Coinbase, Earn.com, amongst others. In current years, a16z, which is recognised as one of the crucial influential enterprise companies globally, has made a number of investments within the cryptocurrency and decentralised finance (DeFi) house.

In May, Andreessen Horowitz was trying to increase a fund of as a lot as $1 billion from traders to put money into cryptocurrencies and crypto startups.

Quintenz’s hiring comes at a time when U.S. monetary regulators are contemplating regulating the fast-growing cryptocurrency sector. 

US monetary regulators are making ready to take a extra lively position in regulating the $1.5 trillion cryptocurrency market as issues develop {that a} lack of correct oversight dangers harming traders and shoppers.

Earlier this month, the US SEC began investigating the biggest DeFi alternate, Uniswap, to look into how traders use the alternate and the way the platform is marketed.

Two days in the past, Coinbase obtained the SEC’s consideration. On Tuesday, September 7, Coinbase CEO Brain Armstrong went public with the battle, stating the SEC has now picked his firm’s proposed lending product. Coinbase desires to launch a yield-generating product referred to as Coinbase Lend to compete with well-liked decentralised (DeFi) merchandise like Compound and Aave. But the SEC claims that the product “Coinbase Lend” is safety and would subsequently sue Coinbase if it goes forward and launches the Lend program.

Coinbase alternate and decentralised alternate Uniswap are a few of A16z’s most notable investments.

Image supply: Shutterstock



Please enter your comment!
Please enter your name here

Most Popular

Recent Comments