CFTC Acting Chair Pham seeks CEOs for innovation council amid expanding crypto oversight
Quick Take The CFTC is poised to have a larger role in regulating crypto as bills in both the House and Senate would give the agency broader authority over digital assets. “In order to hit the ground running, it is critical that the CFTC drives public engagement with the support of expert industry leaders and visionaries who are building the future,” Pham said on Tuesday.
The Commodity Futures Trading Commission's Acting Chair, Caroline Pham, is seeking chief executives to bolster a newly formed CEO Innovation Council aimed at strengthening the agency’s efforts as it expands its oversight of digital assets.
Pham announced Tuesday that she is soliciting nominations for the council, with submissions due by Dec. 8.
The CFTC is poised to have a larger role in regulating crypto, as bills in both the House and Senate would give the agency broader authority over digital assets. However, the timing of any legislative action remains uncertain, with progress stalled and earlier targets already missed.
In the interim, the agency has launched a " Crypto Sprint " to focus on clarifying rules for crypto and has set its sights on next debuting spot trading products, which would include leveraged offerings.
"In order to hit the ground running, it is critical that the CFTC drives public engagement with the support of expert industry leaders and visionaries who are building the future," Pham said in a statement . "That is why today I am calling upon CEOs to join us in shaping responsible regulations that will lay the foundation for America’s Golden Age of Innovation.”
Pham is currently the lone commissioner at the CFTC and has said she plans to leave once a new CFTC chair is confirmed. The Senate is moving forward with President Donald Trump's pick, Michael Selig, to lead the agency and is awaiting a full Senate vote.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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