The US regulators are weighing a more progressive regulatory approach for the crypto industry, influenced by President Donald Trump’s pro-crypto views. In a surprising development, Caroline Pham, the Active Chairman of the Commodity Futures Trading Commission (CFTC), has announced potential public roundtables on emerging trends, including cryptocurrencies and prediction markets.
Aligning with Trump’s progressive crypto policies, both SEC and CFTC are considering introducing crypto-friendly norms. If these regulators encourage the growth of the crypto industry, the US could potentially emerge as a global leader in the digital asset space.
CFTC To Convene Roundtables for Crypto
In an official press release, the CFTC’s acting chair, Caroline Pham, revealed her intention to convene public discussions on the promotion of innovative technologies. Reportedly, the regulator is considering organizing a series of roundtables to explore topics such as digital assets, prediction markets, as well as affiliated entities and conflicts of interest.
This comes just days after Donald Trump’s appointment of Caroline Pham as the acting Chair of the Commission. Primarily, Pham envisions focusing on innovation and modern technology that bring new opportunities to the market. She also addressed these technologies’ potential pitfalls and risks, invoking caution. Highlighting CFTC’s fundamental mission, Pham drew attention to the staff roundtables, adding,
As I have long said, the CFTC must take a forward-looking approach to shifts in market structure to ensure our markets remain vibrant and resilient while protecting all participants…A holistic approach to evolving market trends will help to establish clear rules of the road and safeguards that will promote U.S. economic growth and American competitiveness.
SEC Launches Crypto Task Force
Recently, Mark Uyeda, the Acting Chair of the US Securities and Exchange Commission (SEC), launched the Crypto Task Force, an initiative focusing on the crypto industry. Led by Commissioner Hester Peirce, the group seeks to establish a comprehensive regulatory framework for the digital asset sector.
Uyeda believes that the regulatory agency could bring better results in the market with the new task force, as he stated, “The SEC can do better.” Meanwhile, Peirce added, “This effort will succeed only if the task force has input from a broad spectrum of investors, industry players, and other stakeholders.”
Moreover, the SEC withdrew the most controversial Staff Accounting Bulletin No. 121 (SAB 121) that prevented banks from holding crypto assets. SEC’s groundbreaking move, coupled with the CFTC’s potential actions, has invoked community enthusiasm.
Donald Trump To Reform US Crypto Landscape
Donald Trump is endeavoring to transform America into a crypto capital. Fulfilling his election campaign pledges, Trump has released crypto-focused executive orders, sparking optimism within the community.
Following his inauguration, Trump signed an executive order to develop a national digital asset stockpile. The core objective of the move is to solidify the country’s position at the forefront of the global financial economy.
Further, Trump’s establishment of the White House Crypto Council has also generated significant interest. The council is expected to work with the SEC, the CFTC, and industry leaders to foster market growth.
The post CFTC Acting Chair Caroline Pham To Launch Public Roundtable On Crypto appeared first on CoinGape.
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