Caroline Pham Appointed Acting Chair of CFTC Under Trump Administration
The administration of Donald Trump is shaping a pro-crypto environment with Caroline Pham appointed as acting chair of the U.S. Commodity Futures Trading Commission (CFTC). Pham, currently a commissioner, was nominated under Joe Biden.
Key developments include:
- Pham's confirmation follows support from five CFTC members.
- In 2023, she proposed a “regulatory sandbox” for developing a crypto regulatory framework and initiating pilot programs.
- As a commissioner, Pham created a Digital Assets Markets subcommittee to recommend governance and risk frameworks for virtual currencies.
Rostin Behnam has stepped down as CFTC chair, effective February 7. During his tenure, the CFTC secured $12.7 billion in restitution related to FTX and imposed significant penalties on Binance and its founder.
Notable appointments in Trump's administration include:
- Paul Atkins as SEC Chairman.
- Scott Bessent as U.S. Treasury Secretary.