CFTC Chair Pham Eliminates Outdated Crypto Guidance to Boost Innovation
- Caroline Pham, Acting Chairman of the CFTC, has withdrawn guidance on “actual delivery” of crypto commodities established in 2020.
- The move aligns with President Trump’s agenda to simplify regulations that hinder the crypto industry.
- The original guidance aimed to clarify asset delivery during crypto transactions under the Commodity Exchange Act.
- Phams’ actions follow a recommendation from the President’s Working Group to expand upon previous guidance regarding virtual assets.
- Mike Selig is expected to be confirmed as Pham’s permanent replacement soon, amid ongoing policy changes at the CFTC.
Pham’s decision aims to reevaluate and update regulatory frameworks for digital assets in light of evolving market practices over the past five years. This change is intended to foster innovation within the crypto sector by removing barriers created by outdated regulations.
By eliminating the old “actual delivery” guidance, Pham seeks to enhance clarity and support for crypto transactions, reflecting a significant shift in regulatory approach at the CFTC. (Source)
