Caroline Pham, the current Commissioner of the Commodity Futures Trading Commission (CFTC), has been appointed by US President Donald Trump.
Caroline Pham, a Junior Commissioner at the Commodity Futures Trading Commission (CFTC), has been proposed by US President Donald Trump for the position of agency head. After the five commissioners of the commission voted in her favor, Pham will assume the role of acting Chairman, according to a Bloomberg report.
Caroline Pham and the US CFTC
According to the Bloomberg report, which cites anonymous sources, the appointment is not yet public knowledge. The appointment of a Chairman to oversee the US CFTC is primarily an internal position, with the commissioners responsible for approving the President’s selection.
Caroline Pham is a proponent of transparent regulations for the crypto industry and its participants. Her appointment as Chair will facilitate President Donald Trump’s implementation of his pro-crypto agenda over the next four years. The resignation of former Chairman Rostin Behnam necessitated Pham’s appointment.
In addition to the Bloomberg update, Fox Business Journalist Eleanor Terrett verified Caroline Pham’s appointment. Pham is regarded as a crypto advocate who maintains cordial relationships with certain ecosystems within the industry.
Following her appointment, a photo of her meeting with Brad Garlinghouse, Ripple CEO, was posted in an old update from 2022. Industry advocates anticipate she will serve as an effective Chair for cryptocurrency due to her prior experience as a commissioner.
The Complementary Leadership of the US Securities and Exchange Commission
Caroline Pham’s commission was delayed due to the nomination of Paul Atkins in December 2024. These two nominations are regarded as the most significant in determining the trajectory of the crypto ecosystem.
Gary Gensler and Rostin Behnam have pending cases that have been transferred to the US CFTC and the SEC. Last week, Gensler submitted a new appeal in the Ripple litigation; however, Rostin Behnam was still subject to a pending subpoena concerning the prediction markets investigation.
It is yet to be determined how both leaders will navigate the old cases while simultaneously establishing a future for the crypto ecosystem.
Industry Anticipations Regarding Donald Trump
Numerous industry executives are now anticipating the realization of President Donald Trump’s election promises following his formal inauguration. The demand for a strategic Bitcoin reserve is at the forefront, even though explicit regulations are still essential.
The Bitcoin Bill, which Senator Cynthia Lummis introduced, prompted the establishment of this reserve. In addition, the President is considering the establishment of a crypto advisory council to facilitate the strategic Bitcoin reserve plan.
The industry is already anticipating the resolution of most of the critical issues from the previous administration, such as the Operation Chokepoint 2.0 investigation.