The Senate committee vote on Brian Quintenz’s nomination as chair of the Commodity Futures Trading Commission (CFTC) has hit another fork in the road following a second delay.
The White House asked the Senate Committee on Agriculture, Nutrition and Forestry to cancel a planned vote on Quintenz Monday night for an undisclosed reason, marking the second delay to determine whether Quintenz will be leading federal regulation of derivatives. His role would oversee the regulation of prediction markets, including Kalshi and Crypto.com.
According to Bloomberg reporter Yash Roy, the White House delayed the vote by asking Sen. John Boozman to “not go forward” with the nomination.
“That’s the only communication we’ve had…and my question was how would you like us to respond, and they said if there were any further questions to contact the White House,” Boozman told Roy.
Roy follows financial and regulation for Bloomberg and has been keeping close tabs on Quintenz’s nomination process.
While the White House apparently asked for a delay, the group still stands behind Quintenz as the nominee.
“President Trump remains committed to making the United States the crypto capital of the world,” an anonymous source told Politico.
Last week, Quintenz’s vote as CFTC Chair was allegedly delayed as a result of a delayed flight for Sen. Cindy Hyde-Smith. The Democrats on the committee plan to vote against Quintenz for the role, so her attendance was important in order for Republicans to hold a majority and advance him.
Quintenz needs the committee vote before a full Senate confirmation. He is seeking the role as chair after previously serving as a CFTC commissioner between 2016 and 2021.
Quintenz has ties to prediction markets and crypto
The request from the White House to delay Quintenz’s vote follows President Donald Trump nominating him for the position in February. Trump is familiar with Quintenz after re-nominating Quintenz as a CFTC Commissioner in 2017 after his initial appointment.
The crypto expert is on the board of directors at Kalshi and intends to resign from the role if he is confirmed as CFTC Chairman. Quintenz plans to recuse himself from all matters involving the prediction market for one calendar year. Quintenz, a former advisor at Crypto.com, has been on the board of directors at Kalshi since 2021. According to the Office of Government Ethics, Quintenz disclosed over $3 million in assets tied to crypto.
A vote is needed quickly to prevent longer delays as an August recess approaches. Last week, Boozman expected a vote to take place before the recess.
