#CFTC #Regulation

CFTC’s Acting Chair Caroline Pham: No ‘Easy Street’ for Crypto 🚨

At the Coinbase Annual Summit, CFTC’s Caroline Pham made it clear: even with a pro-crypto Trump administration, the agency won’t go soft on the industry. “There’s no easy street for anybody,” she told Yahoo Finance. Regulators will crack down on “lying, cheating, and stealing,” but won’t twist laws to criminalize crypto or blockchain. 🛡️

Pham praised the CFTC’s shift from “regulation by enforcement” to targeting fraudsters, criticizing the Biden admin for overstepping legal boundaries, which she says hurt derivatives and forex markets. 🌍

On “uberizing crypto,” Pham explained it’s about making digital assets so integral to daily life that banning them becomes politically impossible—like Uber did with ride-sharing. 🚗💸

This week, the CLARITY Act, a crypto market structure bill, advanced in the House, aiming to define SEC vs. CFTC oversight, likely favoring the latter. 📜

Pham is set to step down for a16z’s Brian Quintez, pending Senate approval. What’s next for crypto regulation? 👀