News Brief｜Former Acting CFTC Chair: No Need for Congressional Legislation—Existing Framework Is Sufficient to Regulate Crypto Markets
Caroline Pham, former acting chair of the U.S. Commodity Futures Trading Commission (CFTC) and current Chief Legal Officer and Chief Administrative Officer at MoonPay, said the Commodity Exchange Act gives the CFTC broad regulatory authority. The existing regulatory framework can also cover emerging commodities such as crypto assets, without waiting for Congress to pass legislation. Pham believes the CFTC’s recently proposed rules will help strengthen protections for U.S. retail crypto traders.
Key points to watch: the jurisdictions covered, the businesses involved, and the implementation timeline.
This does not constitute investment advice.
Caroline Pham, former acting chair of the U.S. Commodity Futures Trading Commission (CFTC) and current Chief Legal Officer and Chief Administrative Officer at MoonPay, said the Commodity Exchange Act gives the CFTC broad regulatory authority. The existing regulatory framework can also cover emerging commodities such as crypto assets, without waiting for Congress to pass legislation. Pham believes the CFTC’s recently proposed rules will help strengthen protections for U.S. retail crypto traders.
Key points to watch: the jurisdictions covered, the businesses involved, and the implementation timeline.
This does not constitute investment advice.