Caroline Pham, the newly appointed acting chair of the Commodity Futures Trading Commission (CFTC), has introduced significant leadership changes within the agency, indicating a potential shift in its approach to market oversight and cryptocurrency regulation.
Acting Chairman @CFTCpham Announces CFTC Leadership Changes: https://t.co/x2J5tS4TnN
— CFTC (@CFTC) January 23, 2025
On January 23, Pham appointed interim officials to key roles at the CFTC, including Harry Jung as acting chief of staff. Jung will manage the agency’s engagement with emerging technologies like cryptocurrencies and DeFi. Pham highlighted Jung’s qualifications, which include a law degree and significant experience in financial services from Morgan Stanley and CitiBank.
Pham, recognized for her crypto-friendly stance as a commissioner, appears poised to reshape the agency’s focus on digital assets. Her appointment coincides with speculation that the Trump administration is considering giving the CFTC broader authority over the crypto sector, potentially limiting the influence of the SEC.
Commenting on the developments, Coinfund president Christopher Perkins expressed optimism about the CFTC’s proactive engagement with the crypto space, noting the importance of leadership focused on collaboration rather than enforcement. Meanwhile, crypto trader Monolith pointed out that Jung’s unique professional background could introduce a fresh perspective on regulatory policies.
Other key appointments include Meaghan Tente transitioning from chief of staff to acting general counsel, Taylor Foy moving to the Office of Public Affairs, and Tom Smith stepping in to lead the market participants division.
In her statement, Pham also acknowledged the efforts of her predecessor, Rostin Behnam, and the former CFTC leadership team to highlight the need for stronger regulatory frameworks in the crypto space.
Meanwhile, The CFTC is considering a 90-day review of Crypto.com’s new futures contracts, which allow users to bet on major football games, including the Super Bowl. The commission is debating whether these contracts violate federal betting laws. Historically, the CFTC has opposed futures contracts related to sports events and other occurrences outside public interest.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
