Friendly camp +1 again! CFTC chairman candidate released? Trump is considering these two experts, 01928374656574839201

The encryption industry may be facing a major upheaval

According to the latest report from Fox Business, Trump is carefully considering appointing two female leaders who are pro-encryption as the chair of the Commodity Futures Trading Commission (CFTC). The candidates include Perianne Boring, CEO of the Chamber of Digital Commerce, and Caroline Pham, the current Republican-appointed member of the CFTC. This potential appointment not only signifies the rise of the encryption industry's political influence but may also bring about significant changes in US cryptocurrency regulation.

Source: Google Perianne Boring (left), candidate for the chairman of the CFTC in the new Trump administration, and Caroline Pham (right)

These two candidates have rich experience and distinct positions in the encryption industry. Boring is well-known for her firm attitude, actively defending the BTC Mining industry, and publicly criticizing existing regulatory agencies. She is particularly critical of the Securities and Exchange Commission (SEC) attempting to define multiple encryption currencies as securities through 'backdoor legislation'. In an article published in June this year in the foreign media 'CoinDesk', Boring pointed out that the energy sector's data collection program targeting BTC Miners is a form of 'excessive regulation', sparking widespread discussion in the industry.

Another candidate, Pham, has attracted attention for her pragmatic and forward-looking supervisory concepts. In 2023, she proposed a 'time-limited' digital asset market regulatory pilot program, aiming to establish a more flexible and innovation-oriented regulatory framework. Pham particularly emphasizes the need to find a balance between risk management and technological innovation, which has sparked great response in the encryption industry. She also actively calls for enhanced international regulatory cooperation, advocating for the SEC and CFTC to hold roundtable meetings to improve regulatory transparency.

The encryption industry policy may be at a turning point

In addition to Boring and Pham, another potential candidate is current CFTC commissioner Summer Mersinger. It is worth noting that the Digital Chamber of Commerce, led by Boring, strongly opposed the Cryptocurrency Anti-Money Laundering Act proposed by Democratic Senators Elizabeth Warren and Sherrod Brown earlier this year, believing that the bill is essentially aimed at curbing and limiting the development of the encryption industry.

Boring is highly optimistic about the future of the Crypto Assets market. She boldly predicted that if the current adoption trend continues, the price of Bitcoin (BTC) could reach $1 million by 2029. Although this prediction may sound overly optimistic, it fully reflects her confidence in the long-term development of encryption technology. As of the time of writing, the price of BTC is $101,852.

Source: TradingView BTC price chart

Regulators may reposition

The common feature of these two candidates is that they both emphasize the importance of international regulatory cooperation and advocate for a more open and communicative regulatory approach. Pham suggests establishing a closer cross-border regulatory communication mechanism, while Boring is committed to creating a more friendly and inclusive development environment for the encryption industry. Their ideas indicate that the future CFTC chairman is likely to adopt a more balanced and rational regulatory strategy.

Currently, the Trump team has not officially announced the final candidate. But whoever can serve as the CFTC chairman, this appointment may have a profound impact on the regulatory landscape of the American Cryptocurrency market. The industry and investors are closely following the developments, expecting this appointment to bring significant Favourable Information to the encryption industry. This is not only about changes in regulatory policies, but also symbolizes the increasing acceptance and attention of mainstream financial systems to encryption technology.

It is worth looking forward to, no matter who ultimately leads, how will the CFTC balance innovation, risk, and regulation? There is an opportunity to open up a broader development space for the encryption industry.

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『Encryption friendly camp +1 again! CFTC Chairman Candidate Announced? Trump considers these two experts' article was first published in "Encryption City"