Caroline Pham, the Acting Chair of the Commodity Futures Trading Commission (CFTC), has announced some exciting plans. She’s set to hold a series of public roundtable discussions. These discussions will focus on important market issues, especially those related to cryptocurrency.
The CFTC wants to engage with industry leaders, market participants, and public interest groups. Together, they will explore new trends and innovations in market structure.
In a recent notice, Pham shared that these roundtables will cover various topics. These include affiliated entities, conflicts of interest, prediction markets, and digital assets. The goal here is to boost transparency and encourage public involvement in the CFTC’s policymaking process.
Pham stated, “Innovation and new technology have created a renaissance in markets. This brings new opportunities for more people, along with some risks. The CFTC will get back to basics by hosting staff roundtables. We aim to develop a solid administrative record with studies, data, expert reports, and public input. A holistic approach to evolving market trends will help us establish clear rules and safeguards that promote U.S. economic growth and competitiveness.”
These discussions will bring together various stakeholders. Industry leaders, market experts, and representatives from public interest groups will engage in open dialogue about key market issues.
According to the notice, the CFTC will soon share more details about the dates, times, and specific topics for these discussions.
Just last week, CFTC commissioners elected Pham as the new acting chair after President Trump’s inauguration. She has been a CFTC commissioner since April 2022.
Pham took over from former CFTC Chair Rostin Benham, who will stay with the CFTC until February 7. The Senate has confirmed that Pham will continue leading the CFTC until Trump nominates a permanent head for the agency.
As Mario Nawfal noted on X (formerly Twitter), “Acting Chair Pham is bringing in major players—industry leaders and other stakeholders—to tackle complex issues like conflicts of interest. It’s all about creating clearer rules and maintaining U.S. competitiveness. These roundtables could significantly change how crypto operates under the law, so stay tuned for updates.”
Pham has long supported friendly regulation. After joining the CFTC, she gave a strong pro-crypto speech at the Cato Institute. She emphasized that the CFTC should apply the same regulatory approach to cryptocurrency that it uses for other emerging asset classes.
She believes that crypto regulation currently lacks clarity and proactive measures. Pham also highlighted the need for “responsible innovation” and a compliant digital asset market.
In the U.S., regulations for digital assets mainly fall under two agencies: the CFTC and the SEC. The CFTC primarily oversees crypto assets classified as commodities under U.S. law, such as Bitcoin and Ethereum.
The commissioner’s authority includes commodity derivatives, which are financial contracts derived from underlying commodities. This covers crypto futures contracts and options, which are based on the prices of cryptocurrencies.
Earlier this month, reports indicated that the CFTC was reviewing Crypto.com’s sports betting futures linked to the Super Bowl. This review comes amid growing concerns about prediction markets. The CFTC is conducting a 90-day review of these contracts. While the agency cannot immediately halt trading, it can ban these contracts once the review is complete.
On January 9, the CFTC reportedly issued a subpoena to Coinbase, the largest U.S.-based crypto exchange. They are seeking information about the crypto-based prediction market platform Polymarket. While users don’t need to take immediate action, Coinbase mentioned that some user account data may need to be shared with the regulatory agency.