Known for his cryptocurrency-friendly attitude, Brian Quintenz has announced his resignation as commissioner of the Futures Trading Commission (CFTC).
Quintenz's term of office expired back in April 2020 - at which time he committed to resigning by October. At the same time, the law allowed him to serve at the CFTC until the end of 2021.
"Without a successfully appointed replacement, I have decided to remain in my position this year to make sure my voice is heard as important derivatives market and financial innovation issues were raised during the change of administration," the commissioner wrote.
His seat will become vacant from August 31.
"During my term, the CFTC oversaw the listing of bitcoin futures contracts; the storage of digital assets within the traditional clearing infrastructure; the spread of blockchain technology; the creation of tokenised commodities and the rapid spread of decentralised finance (DeFi)," Quintenz said.
He also said he would maintain a positive attitude towards the cryptocurrency industry.
In January 2021, Heath Tarbert stepped down as chairman of the CFTC. Under his leadership, the agency approved the definition of delivery of cryptocurrency to the buyer, launched a competition to create tools to track unregistered derivatives offers, and announced the development of comprehensive regulation of digital assets.
As a reminder, Bloomberg sources reported plans by US President Joe Biden's administration to appoint Rostin Behnam as CFTC chairman.