BREAKING NEWS: Donald Trump’s choice for the CFTC President, which closely concerns the Cryptocurrency Market, has been announced!

Trump has reportedly chosen Caroline Pham as acting CFTC chair.

The chosen name has a pro-cryptocurrency history.
Trump’s pick for the position is currently a Republican-appointed commissioner and already serves at the CFTC as the 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 establish a principles-based framework to address innovation and risk management. He called for greater international regulatory cooperation and suggested that the SEC and CFTC participate 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 compatible digital asset markets and tokenization.”

He added that interested parties and the CFTC can create guidelines for companies to qualify, record and appropriately manage risks.

“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 take a more strategic, long-term view, we are missing opportunities to take full advantage of the technology before us,” Pham said. “The United States may soon find itself constantly playing catch-up and unable to effectively leverage 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.