Trump backs Caroline Pham as acting CFTC chair

President Donald Trump has tapped CFTC Commissioner Caroline Pham as the regulator’s acting chair.

Caroline Pham, a junior Republican commissioner at the Commodity Futures Trading Commission, was voted by a five-member leadership panel to lead the agency in the early days of President Trump’s administration.

Pham replaces outgoing CFTC Chair Rostin Behnam, who resigned on Jan. 20 as Trump was sworn in as the 47th U.S. President. As acting chair, Pham will oversee the commission’s operations until the Senate confirms a permanent leader.

Commissioner Pham has previously called for the CFTC to establish clearer rules for the digital asset industry, often dissenting in enforcement actions against blockchain platforms like Uniswap. She has also asserted that crypto utility tokens are not securities, signaling a pro-digital asset stance.

The CFTC may emerge as the leading digital asset regulator amid regime changes and a more favorable crypto policy stance expected under Trump.

Reports of significant changes across key agencies have made headlines since Trump’s victory last year. Former chairs like Rostin Behnam at the CFTC and Gary Gensler at the Securities and Exchange Commission resigned on inauguration day, creating opportunities for Trump to appoint regulators aligned with his pro-crypto agenda.

Yet, crypto was notably absent from an immediate priority list sent from the Trump administration to Republican policymakers. Industry-wide sentiments believe Trump will sign an executive order establishing a strategic Bitcoin ( BTC ) reserve and push through flexible regulations via Congress.