President-Elect Trump Selects Caroline Pham as Acting CFTC Chair
President-elect Donald Trump has chosen junior Commodity Futures Trading Commission (CFTC) Commissioner Caroline Pham to lead the agency as acting chair, sources familiar with the matter have revealed.
The CFTC commissioners unanimously approved Pham's appointment on Monday, a traditional practice when a new administration assumes office.
Pham's appointment marks a significant move in the regulatory landscape for digital asset companies. As an advocate for clear regulations in this emerging sector, she has proposed "regulatory sandboxes" to enable companies to test their offerings within a controlled environment.
Previously with Citigroup, Pham was nominated as a CFTC commissioner by President Joe Biden in 2021. She will take over from Rostin Behnam, who intends to step down from his chairmanship on January 20th and leave the agency on February 7th.
The CFTC plays a crucial role in regulating the $400 trillion swaps market, and Pham's appointment is expected to shape its approach to digital asset oversight.