Brian Quintenz, nominee for chair of the Commodity Futures Trading Commission (CFTC), made clear during his Senate confirmation hearing that expanding the agency’s role in crypto oversight will require increased funding.
When pressed by lawmakers on whether the CFTC could effectively regulate crypto without additional resources, Quintenz responded that expanded authority must come with matching institutional capacity. He referenced historical precedent, pointing out that federal agencies taking on new duties typically receive more funding and personnel.
“It is precedental that new jurisdiction comes with new resources,” he told the Senate panel.
“So to the extent that new authorities come to the agency … I would anticipate that new resources would likely be needed.”
Lawmakers from both parties appeared to support his view. While some expressed concern about the agency’s future direction under a Trump administration, many agreed that the CFTC would need updated infrastructure and more staff to fulfill its role in overseeing digital finance.
Lawmakers Stress CFTC Readiness for Crypto Shift
If confirmed, Quintenz would assume leadership of the CFTC during a crucial period for crypto regulation. As Congress moves to redefine the agency’s role, he emphasized that the CFTC must scale up to meet the sector’s technical demands.
Senator Amy Klobuchar underscored the issue during the hearing, saying the agency must be structurally prepared, not just authorized, to supervise the expanding crypto industry.
“It is also essential that the CFTC have the institutional capacity, both in staffing and resources, to fulfill its mandate in the face of these emerging challenges,” she said.
Quintenz echoed her concerns, stating that implementing new rules without added resources would be unrealistic.
“It would be a challenge to undertake a lot of that responsibility, certainly the oversight part, once rules come online,” he said.
“Once rules come online then there is new authority there, there is a new jurisdiction, and it’s usually been a precedent to accord the agency new resources.”
The funding question also reflects broader tensions within the Trump administration, which has alternated between advocating for deep budget cuts and proposing major new spending plans. This inconsistency raises uncertainty over whether agencies like the CFTC will receive adequate support to manage fast-evolving markets like crypto.
Quintenz May Lead Solo Amid CFTC Resignations
If confirmed, Quintenz could face a solitary path forward. Four out of five CFTC commissioner seats are now vacant or soon to be, leaving the agency on the verge of a leadership vacuum during a pivotal time.
Quintenz—who previously served as a CFTC commissioner and currently leads global policy at a16z crypto—has drawn praise for bridging the gap between regulatory experience and blockchain innovation.
But with Democrats Kristin Johnson and Christy Goldsmith Romero, and Republicans Caroline Pham and Summer Mersinger exiting or preparing to leave, Quintenz may be the only commissioner for months. Goldsmith Romero stepped down on May 31, Pham will exit after Quintenz’s confirmation, and Mersinger has already joined the Blockchain Association. Johnson is expected to leave by year’s end.
This leadership gap comes just as lawmakers prepare to give the CFTC new authority over crypto markets—placing immense responsibility on a possibly one-person commission.
Quick Facts
- Brian Quintenz, former CFTC commissioner, is nominated to chair the agency as it prepares to oversee crypto markets.
- He told the Senate that expanded crypto oversight will require new budget allocations and staffing support.
- Lawmakers on both sides agreed that the CFTC must modernize to handle digital finance regulation.
- Four out of five commissioner seats at the CFTC are currently vacant or set to be vacated.
