Key Takeaways
- Caroline Pham has been named acting chair of the CFTC.
- Pham supports regulatory sandboxes for blockchain innovation.
- The CFTC may gain expanded authority over crypto markets.
President Donald Trump has named Caroline Pham, a Commodity Futures Trading Commission (CFTC) commissioner and advocate for digital asset regulation, as the agency’s acting chair.
The appointment, reported by Bloomberg News on January 20, follows a vote by the CFTC’s five commissioners to confirm Pham for the role.
Background & vision
Originally appointed by President Biden in 2021, Pham has become a prominent supporter of clearer guidelines for the U.S. digital asset industry.
She has proposed innovative measures such as “regulatory sandboxes,” enabling blockchain firms to test new technologies under regulatory supervision without full compliance requirements.
Policy proposals
In a 2023 speech at the Cato Institute, Pham suggested a pilot program for compliant digital asset markets, aiming to improve liquidity, encourage competition, and reduce fraud.
She warned:
The U.S. risks falling behind international counterparts advancing strategic crypto policies.
Succession planning
While Pham steps into the interim role, the search for a permanent chair continues.
Candidates include pro-crypto figures like Summer Mersinger, the CFTC’s senior Republican member, and Brian Quintenz, a former commissioner and policy leader at Andreessen Horowitz’s a16z Crypto.
Future impact
The new chair will likely play a key role in implementing the Financial Innovation and Technology for the 21st Century Act, which may expand the CFTC’s authority over digital commodities markets and exchanges.
