Brain Quintenz, the election of President Donald Trump to take care of the Basic Products Trade Commerce Commission that is anticipated that it is the main crypto regulator of the United States, was arrested in the confirmation process by the White House.
Quintenz was prepared for a necessary firm of the Senate Agriculture Committee on Monday before he could obtain a confirmation vote in the broader Senate, but the administration intervened, which was the second time that its process was delayed since last week.
“The White House asked the committee to delay the vote,” said the committee staff in a statement sent by email to Coindesk. The White House did not immediately respond to a request for comments, so its reasoning is still clear, as well as the potential for Quintenz to continue in the process.
The Committee had been ready to vote on the nomination of former CFTC Commissioner on Monday afternoon, but the change of last minute reached its progress of consideration. After the vote of his committee had already been delayed last week with even less notice, Quintenz is struggling to jump this first obstacle before the confirmation decision of the broader Senate.
For next week, the Senate will disperse in its August recess, leaving any approval of hanging staff delayed for more weeks. That leaves the US Basic Products Agency in a dim position with respect to what is already a delicate leadership situation in the CFTC.
Quintenz was destined to take care of the agency just as Congress is weighing the legislation that would raise the CFTC to regulate most of the US crypto markets. UU., Including trade in Bitcoin (BTC). Meanwhile, the regulator is directed by Commissioner Caroline Pham, a Republican who Trump installed as an interim president. But he plans to leave when his permanent replacement arrives, and his republicans have already left.
That means that the remaining commissioner would be the Democrat Kristin Johnson, who also announced his intention to leave soon. If it goes before or shortly after the Republican President arrives, Quintenz, if confirmed, would be left as the only member of the commission of five people.
President Trump has been fighting a political battle in the agencies of the executive branch when trying to strip them of the Democrats, despite the rules in which the commissions must be composed of members of each of the two main parties. In the CFTC, the circumstances are achieving that without Trump’s intervention, although some observers of the agency wonder about the legal basis for political decisions if taken by a single person commission.
Even so, a CFTC president must be confirmed first. Much of the rest of the Trump financial regulators list has been filled, including the president of the stock exchange and values commission, Paul Atkins.
While the House of Representatives recently approved the Clarity Law of the Digital Assets Market with a mass bipartisan vote, that bill to regulate the US cryptocurrency markets. UU. The president of the Senate Banking Committee, Tim Scott, established a deadline of September 30 to finish it, but the Senate Agriculture Committee also has to sign, leaving the fast scott calendar in some uncertainty.
Read more: Johnson from the United States
Update (July 28, 2025, 23:17 UTC): Add the Committee comment on the white house delay.
