President Donald Trump is reportedly selecting Brian Quintenz from Andreessen Horowitz's crypto venture firm to helm the Commodity Futures Trading Commission (CFTC), the commodities regulator expected to take on greater oversight of the crypto industry under his administration, according to Bloomberg .

Quintenz, previously the CFTC commissioner from 2017 to 2021, was nominated to the regulator by both Presidents Obama and Trump. He led the agency's Technology Advisory Committee, which hosted briefings and discussions on the cryptocurrency industry. During his tenure, the CFTC started regulating Bitcoin and Ether-based futures contracts on derivative exchanges and paid increased attention to DeFi (decentralized finance).

Quintenz served on Crypto.com's advisory council and is a board member for Kalshi, the prediction market platform. Last month, the president's son, Donald Trump Jr., also came on as a a strategic adviser to Kalshi.

Quintenz is also part of the advisory board at Inca Digital, an intelligence firm that offers risk management to crypto firms and banks. In a 2022 statement, the company said he offered "high-level counsel on the firm's larger effort to provide world-class data analytics across crypto regulatory matters."

In 2018, Quintenz called the crypto industry a "young market" and did not voice opposition to self-regulation by the industry. "It would behoove the industry and it would add credibility to the marketplace for the community to form some type of independent regulatory body that has teeth — that has some type of enforcement and punitive powers — to add credibility to the market and to protect investors," he told CNBC . "I think that's good business."

"Some type of federal oversight is a good idea," he added.