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The CFTC commissioner has previously called for regulating digital assets in her role with the financial regulator, which could change under Donald Trump.
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In one of his first official acts after being sworn in as US President, Donald Trump will name Commodity Futures Trading Commission (CFTC) member Caroline Pham as the acting chair of the financial regulator.
In an announcement shared with Cointelegraph on Jan. 20, a representative of Commissioner Pham said she would replace former CFTC Chair Rostin Behnam temporarily until Trump could nominate a permanent head of the regulator whom the Senate could confirm.
She has been serving as a CFTC commissioner since April 2022 after being nominated by former US President Joe Biden.
“I’m humbled to lead the CFTC as Acting Chairman,” said Pham. “It is an honor to be entrusted to serve the American people during this pivotal time.”
Behnam announced in January that he planned to step down on the day of Trump’s inauguration. Though any new CFTC commissioner or chair would need to be confirmed by a majority of lawmakers in the US Senate after hearings, Trump has the authority to appoint temporary replacements under the Federal Vacancies Reform Act.
As a CFTC commissioner, Pham has called on the government to address crypto regulation and proposed initiatives to protect investors.
It’s unclear what roles the CFTC and Securities and Exchange Commission (SEC) will have in regulating crypto under the Trump administration, with many US lawmakers suggesting they plan to pass legislation establishing a market framework.
Related: CFTC mulling probe of Crypto.com over Super Bowl contracts: Report
Trump took the oath of office as US President on Jan. 20 but notably did not mention digital assets or blockchain technology in his acceptance speech. In one of his last acts as a private citizen before assuming office, he and his wife, Melania, announced the launch of memecoins, which critics claim allow anyone to funnel money indirectly into the first family’s pockets.
This article first appeared at Cointelegraph.com News
