Caroline Pham: "There will be no unconditional regulatory relaxation… Supporting compliance-based innovation"

YM Lee

Summary

Acting CFTC Chair Caroline Pham emphasized that the Trump administration's cryptocurrency policy should not be interpreted as an unconditional regulatory relaxation.
Chair Pham stated her support for compliance-based innovation rooted in laws and regulations.
She conveyed that policies under the Biden administration have had a negative impact on both cryptocurrencies and the traditional derivatives market.

*Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC) / Photo = Doohyun Hwang, Bloomingbit reporter*

Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC), emphasized that the Trump administration's cryptocurrency policy does not signify unconditional regulatory easing.

According to a Cointelegraph report on the 13th (local time), Caroline Pham stated at the Coinbase Summit, "Although the Trump administration is showing a lenient stance towards cryptocurrencies, that does not mean regulations will be unconditionally relaxed. No one has an easy path," she said.

She criticized the previous policies under the Biden administration. Pham remarked, "Biden's past laws and regulations have harmed not only cryptocurrencies but also the existing derivatives market. If you start arbitrarily changing the rules of the existing global derivatives market, targeting cryptocurrencies you deem problematic, it's the same as collapsing the market structure itself," she said.