US CFTC Acting Chair Caroline Pham stated at the Coinbase annual summit that although the Trump administration supported the crypto industry, the CFTC will not relax its regulation, stating that "no one can easily escape legal responsibility." She emphasized that supporting innovation does not equate to tolerating illegal activities such as fraud and theft. Pham also mentioned that the CFTC has concluded its "enforcement-style regulation" of the crypto industry, and will focus on combating fraud and scams in the future. Additionally, Pham revealed that she will step down, and a16z crypto policy head Brian Quintez will take over, pending Senate vote approval. (Cointelegraph)