Key Points
- President Donald Trump has appointed Caroline Pham, a Republican member of the Commodity Futures Trading Commission (CFTC), as acting chairperson.
- Pham, who has an extensive background in finance and cryptocurrency, succeeds departing Democrat chair Rostin Behnam.
Caroline Pham is stepping in as the interim head of the CFTC, an agency expected to enhance its regulatory role in the crypto market as U.S. policy tilts towards a more favorable approach to digital assets. The CFTC is poised to take charge of the regulation of spot crypto markets involving major currencies like Bitcoin and Ethereum. This legislative move is seen as crucial for establishing clear guidelines in the ever-evolving crypto space.
“It is an honor to be entrusted to serve the American people during this pivotal time,” Pham stated. “I want to thank President Trump for his confidence in me, and I’m grateful to my colleagues and the CFTC staff for their support. I’m looking forward to engaging with all stakeholders in this new capacity as we focus on the CFTC’s mission to promote well-functioning markets that support economic growth and the competitiveness of the United States.”
The commission, which voted to promote Pham, typically aligns such decisions with the incoming president’s preference. The agency has yet to formally announce this appointment, leaving open the question of whether Pham could become a permanent chair in the future.
In her role at the CFTC, Pham has been pivotal in guiding discussions surrounding digital asset oversight, showcasing her extensive experience from her past role in Citigroup, where she managed the bank’s crypto initiatives early on.
