President Trump Appoints Caroline Pham as Acting Chair of CFTC
Washington, D.C. - President Donald Trump has named junior Commodity Futures Trading Commission (CFTC) Commissioner Caroline Pham as acting chair of the swaps and derivatives regulator.
The five-member CFTC voted unanimously on Monday to confirm Pham's appointment. The commission typically approves the choice of the incoming administration for the acting chair role.
"I am honored and grateful for the opportunity to serve as acting chair of the CFTC," said Pham. "I look forward to working with all stakeholders to promote well-functioning markets that support economic growth and the United States' competitiveness."
Pham has been a vocal advocate for providing regulatory clarity for digital asset companies. She has proposed using "regulatory sandboxes" to allow companies to test their products and services under close supervision without full registration.
Pham's appointment comes as the CFTC prepares to play a larger role in regulating the rapidly growing digital asset industry. She has also expressed concerns about the agency's approach to regulating event contracts and election trading.
Pham was nominated to the CFTC by former President Joe Biden in 2021. She previously worked for over seven years at Citigroup.
She will take over as acting chair from Rostin Behnam, who has announced his plans to step down on January 20. The CFTC is responsible for overseeing the $400 trillion swaps market in the United States.