U.S. CFTC Commissioner Caroline Pham Gets Trump Nod as Acting Chair

U.S. CFTC Commissioner Caroline Pham Gets Trump Nod as Acting Chair

Caroline Pham Appointed Acting Chair of CFTC Amid Shift Toward Crypto-Friendly Policies

Caroline Pham, a Republican commissioner at the U.S. Commodity Futures Trading Commission (CFTC), has been selected as the acting chair of the agency under President Donald Trump's administration. Pham, a former Citibank executive with a strong background in crypto, takes over from the departing Democrat chair, Rostin Behnam. This leadership change comes as the administration seeks to align U.S. policy more closely with digital assets.

Pham’s appointment positions the CFTC to become a central regulatory authority for cryptocurrencies, particularly as lawmakers push for clear frameworks on digital asset markets. As the CFTC is expected to assume responsibility for regulating crypto spot markets, including widely traded tokens like Bitcoin (BTC) and Ethereum (ETH), Pham's leadership could significantly impact the future landscape of crypto regulation.

In her statement, Pham expressed gratitude for the opportunity, saying, “It is an honor to be entrusted to serve the American people during this pivotal time. I look forward to engaging with all stakeholders to ensure the CFTC’s mission promotes well-functioning markets that support economic growth and U.S. competitiveness.”

Pham’s extensive experience includes leading the Global Markets Advisory Committee at the CFTC, where she worked on strategies for overseeing digital assets. She proposed a crypto regulation pilot program in 2023, further solidifying her role as a key figure in shaping the agency’s approach to crypto. Before joining the CFTC, Pham held senior roles at Citigroup, where she helped craft the bank’s early digital assets strategy.

The move comes as outgoing CFTC Chair Rostin Behnam steps down following the inauguration of President Trump. Behnam’s resignation, alongside that of SEC Chair Gary Gensler, marks the beginning of a shift in leadership within U.S. financial regulatory agencies.

Pham’s tenure as acting chair will continue until Trump nominates a permanent chair, with Senate confirmation required. While it is not yet clear if Pham will be nominated for the full chairmanship, her name is frequently mentioned as a potential frontrunner.

With Pham at the helm, the CFTC is poised to play a major role in the evolving regulatory landscape for digital assets in the U.S.