Quintenz says CFTC will need more funding if tasked with broader crypto oversight

More than once on Tuesday, U.S. lawmakers asked Brian Quintenz whether the Commodity Futures Trading Commission would need additional funding if it were given expanded authority to regulate crypto. The answer: yes.

During a nomination hearing, Quintenz — President Donald Trump’s pick to lead the agency — said the CFTC would require more resources to fulfill a larger role.

“It is precedental that new jurisdiction comes with new resources,” he said. “So to the extent that new authorities come to the agency … I would anticipate that new resources would likely be needed.”

Most lawmakers at the hearing appeared to agree. While some voiced concerns about Trump’s leadership as it relates to the regulator, they broadly acknowledged that a larger crypto mandate would demand more staff and stronger infrastructure at the CFTC.

If confirmed by the Senate, Quintenz would be leading the CFTC during a pivotal time for crypto. Lawmakers are currently working on legislation that could broaden the CFTC’s oversight of digital assets, just as the U.S. government, traditional financial firms, and retail consumers are all embracing crypto at levels never before seen.

“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,” Sen. Amy Klobuchar, D-Minn., said, before asking Quintenz his opinion on the matter.

“It would be a challenge to undertake a lot of that responsibility, certainly the oversight part, once rules come online,” he responded. “Once rules comes 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.”

Trump’s administration has so far made some drastic cuts to reduce government spending. But the president has also proposed a “big, beautiful” spending bill, many criticize as legislation that will have the opposite effect and actually cause spending to soar.

CFTC job comes with challenge

Familiar with both crypto and the CFTC, Quintenz is seen as a strong candidate by many. Quintenz is the head of global policy at a16z crypto, one of the digital assets industry’s most influential venture capital firms, and also previously served as a commissioner at the CFTC from 2017 to 2021.

If confirmed, Quintenz could end up being the sole commissioner at the CFTC until Trump picks others to fill vacant spots. Over the past several weeks, the remaining four commissioners at the CFTC — Democrats Kristin Johnson and Christy Goldsmith Romero and Republicans Acting Chair Caroline Pham and Summer Mersinger — either left the agency or announced plans to do so. Filling those spots could take time.

Goldsmith Romero had her last day on May 31. Pham said she planned to leave once Quintenz is confirmed. Mersinger was the first to announce her resignation publicly, saying that she was stepping down to take on the role of CEO of the Blockchain Association, which she assumed on Monday. Johnson was the last to announce her leave and said she will depart the CFTC at the end of the year.

Quintenz has called for clear classification and jurisdictional clarity for digital asset market regulation.