BREAKING: Here’s Trump’s Pick for CFTC Chair! This is Important for Crypto!

Trump reportedly chooses Caroline Pham as acting CFTC chair.

The pick has a pro-crypto background. Trump’s pick for the position is already serving on the CFTC as a Republican-appointed commissioner and leader of the commission’s Global Markets Advisory Committee.

Pham had proposed a “time-limited” pilot program to regulate digital asset markets and tokenization in 2023, aiming to create a principles-based framework to address innovation and risk management. He called for greater international regulatory cooperation and suggested the SEC and CFTC engage in roundtables to increase regulatory clarity.

Pham said during recorded remarks presented at the Cato Institute last year that the CFTC could sponsor a program to “support the development of harmonized digital asset markets and tokenization.”

Stakeholders and the CFTC could create guidelines for companies to qualify, record and appropriately manage risks, he added.

“I am optimistic that this approach will ensure the integrity of our markets, promote liquidity and competition, address potential conflicts and risks, and prevent fraud, abuse and manipulation,” Pham said.

“While others are taking a more strategic, long-term view, we are missing out on opportunities to reap the full benefits of the technology that is right in front of us,” Pham said. “The U.S. may soon find itself playing catch-up and not effectively leveraging this technology for economic growth. If you put aside all the froth and ‘get rich quick’ schemes, what institutions, central banks and asset managers have known since at least 2016 and 2017 is that there is a real opportunity to modernize financial asset infrastructure through the tokenization of real assets.”

*This is not investment advice.