Trump appoints CFTC commissioner Caroline Pham as interim chairman to promote regulatory innovation in Crypto Assets

Commodity Futures Trading Commission（CFTC）Republican member Caroline Pham, appointed by President Donald Trump, will temporarily serve as the acting chair of the CFTC under the new administration, and promote a cryptocurrency-friendly policy for the United States.

CFTC is expected to become the regulatory authority for the US cryptocurrency market, and Caroline Pham confirmed on Monday that she will take over as acting chairman of CFTC during this major transition period.

Past legislative efforts have paved the way for the Commodity Futures Trading Commission (CFTC), and the future scope of regulation by this agency will cover the spot markets of mainstream encryption currencies such as Bitcoin (BTC) and Ethereum (ETH). These bills are expected to serve as the foundation for new congressional efforts to promote encryption currency policies.

"I am deeply honored to be trusted by the President and serve the American people at this critical moment," Caroline Pham said in a statement. "I am grateful for President Trump's trust, as well as the support of my colleagues and CFTC staff. I look forward to working with all parties in my new role, focusing on CFTC's mission to promote healthy market operations, drive economic growth, and enhance America's competitiveness."

This personnel appointment is voted by 5 commissioners of CFTC according to the new government's willingness, and Caroline Pham is expected to temporarily take over the operation of CFTC until the formal candidate nominated by Trump is confirmed by the Senate to replace her.

It is currently uncertain whether Caroline Pham will officially become the chairman of the CFTC, but she is indeed one of the popular candidates.

During her tenure as a CFTC commissioner, Caroline Pham was primarily responsible for leading the Global Markets Advisory Committee (GMAC) and engaging in extensive discussions on the regulation of encryption assets. In 2023, she even proposed a trial program for the regulation of encryption assets, laying the foundation for future market standards.

Before joining the Commodity Futures Trading Commission, Caroline Pham was a senior executive at Citigroup, responsible for the early encryption asset investment portfolio of the group.

The current chairman of the CFTC, Rostin Behnam, has announced that he will step down on the day of Trump's inauguration and leave the chairmanship in February this year. In addition, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), also resigned on the same day and was replaced by SEC commissioner Mark Uyeda, who supports encryption currency, symbolizing a new stage of comprehensive restructuring for U.S. financial regulatory agencies.

The remaining four commissioners of the CFTC are Caroline Pham and Summer Mersinger, both Republicans, and Christy Goldsmith Romero and Kristin Johnson, both Democrats.

The article 'Trump appoints CFTC commissioner Caroline Pham as interim chairman, promoting encryption currency regulatory innovation' was first published in Blockchainer.