Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), made it clear that the crypto industry won’t get special treatment—even if the Trump administration supports it.
Speaking at the Coinbase Annual Summit, Pham said, “There’s no easy street for anyone. Just because we support innovation and growth doesn’t mean breaking the law is okay.”
She emphasized that the CFTC’s focus is on stopping actual crime—like fraud and scams—not punishing crypto itself. “We’re not here to twist the law to go after technology. But if someone lies, cheats, or steals, we will act,” she said.
Pham also criticized the Biden administration, saying it tried to over-regulate crypto in ways that harmed other financial markets too. She said this approach risked damaging the global financial system.
On the idea of “uberizing crypto,” Pham explained she wants crypto to become so common in people’s daily lives that banning it would be impossible—just like how Uber disrupted and changed the taxi industry.
Her comments came shortly after a new crypto regulation bill—the CLARITY Act—was approved by a House committee. This bill would define whether the SEC or the CFTC has authority over crypto. It’s expected to give more power to the CFTC.
Pham is also planning to leave her role soon, with Brian Quintez from a16z crypto expected to take over, pending Senate approval.
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