Caroline Pham, a Republican commissioner with a background in crypto, assumes the acting chairmanship of the Commodity Futures Trading Commission (CFTC) as the agency prepares to play a leading role in regulating digital assets.
Caroline Pham , a Republican commissioner and former Citibank executive with a deep background in crypto, has been selected as the acting chair person for the U.S. derivatives regulator, the Commodity Futures Trading Commission ( CFTC ). Pham, who previously served at the agency on both a staff level and as a commissioner, takes over from the departing Democrat chair, Rostin Behnam.
This shift in leadership comes as the administration of President Donald Trump moves towards a more friendly stance on digital assets, placing the CFTC in a position to become a leading federal watchdog for crypto. Pham's appointment coincides with a period of significant potential transition for the agency. Most early legislative efforts to establish a digital assets roadmap envision the CFTC taking over regulation of crypto spot markets for widely traded tokens like bitcoin (BTC) and Ethereum's ether (ETH). These earlier bills are expected to provide the foundation for crypto work in the new Congress. The five-member commission voted to elevate Pham to the acting chairmanship, generally deferring to the wishes of the incoming majority party leadership. A CFTC spokesperson and a staffer for Pham declined to comment on the decision, which hasn't been officially announced by the agency. Pham will lead the CFTC until Trump can nominate and the Senate can confirm a permanent selection. It's unclear whether she will be a frontrunner for the full chairmanship. During her time at the agency, Pham has dedicated considerable time to leading the Global Markets Advisory Committee, focusing on potential approaches to overseeing digital assets. Outgoing CFTC Chair Rostin Behnam previously announced his departure from the commission on inauguration day, joining Securities and Exchange Commission Chair Gary Gensler, who also stated his resignation at noon E.T. when Trump was sworn in
CFTC Commodity Futures Trading Commission Caroline Pham Crypto Regulation Digital Assets Acting Chair
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