Brian Quintenz, who has served as one of many commissioners with the Commodity Futures Buying and selling Fee, or CFTC, reportedly plans to go away the company on Aug. 31.

In keeping with a Thursday report from the Wall Road Journal, Quintenz is expected to announce his transfer into the personal sector after leaving the CFTC later this month. He hinted that his future profession might embrace a deal with “innovation, notably associated to cryptocurrency and DeFi” and deliberate to proceed advocating for the crypto area.

Quintenz was first nominated to the place by President Barack Obama in March 2016 earlier than being re-nominated by Trump in Might 2017 and confirmed that August. His time period on the CFTC was scheduled to finish in April 2020, however he announced at the moment he would keep “till the sooner of the affirmation of my successor or October 31, 2020,” later extending this to “till the Senate acts on a affirmation.”

Many within the trade know Quintenz as one of many main voices in favor of crypto on the CFTC. He has argued cryptocurrencies like Bitcoin (BTC) must be regulated by the CFTC moderately than the Securities and Change Fee and likewise called on crypto industry stakeholders to create a self-regulatory framework. 

Associated: US lawmakers urge CFTC and SEC to form joint working group on digital assets

The CFTC has 5 commissioners in its panel. With the departure of Quintenz and former chairperson Heath Tarbert, there are two empty seats accessible to be crammed with nominations from President Joe Biden. CFTC commissioner Rostin Behnam has been performing as chairperson since Tarbert left in January.