US CFTC Unveils Public Roundtables To Shape Crypto Policy

In one of her first acts as CFTC Chair, Caroline Pham will hold roundtables with industry leaders to drive key reforms in the market.

Caroline Pham, Chair of the US Commodity Futures Trading Commission (CFTC), has announced plans for public roundtables. Since Donald Trump’s inauguration, legislators and regulators have ensured crypto is affirmed in the US, Pham’s action inclusive. This adds to the move by US state legislators to have state treasury in Bitcoin (BTC) or other cryptocurrencies.

The CFTC Public Roundtable Modalities

Pham says Roundtables will encourage innovative technologies, as discussions will center around tackling emerging market challenges. 

Cryptocurrencies, prediction markets, affiliated entities, and conflicts of interest are the other topics to be discussed. Pham aims to drive CFTC’s actions towards the ever-evolving financial landscape while upholding market fairness and resilience. 

Discussions will foster key stakeholders’ collaboration to gather insights across the board. It is expected to influence regulatory frameworks, ensuring increased transparency in policymaking. Trump’s pro-crypto stance has spurred more US state legislators to intensify talks on stocking state treasury with crypto. 

The US Securities and Exchange Commission (SEC) and CFTC have envisioned certain pro-crypto-based actions. 

Is The US Crypto Space Ready For Donald Trump?  

On January 23, President Trump signed his first crypto executive order, Strengthening American Leadership in Digital Financial Technology. He also set up a Presidential Working Group on Digital Asset Markets to make the US a crypto hub. 

Also, interim Chair of US SEC Mark Uyeda launched the Crypto Task Force to drive Trump’s visions further. Commissioner Hester Peirce will lead the task force in establishing a credible regulatory framework for the crypto industry. Recently, Peirce hinted that the task force would succeed if it had support from crypto’s biggest investors, stakeholders, and financial experts. 

The annulment of the Staff Accounting Bulletin SAB121 policy, which SAB122 replaced, is the latest achievement of Trump’s administration. Through the SEC and CFTC collaboration, the controversial policy that stopped financial institutions from possessing cryptocurrencies was withdrawn.

Recently also, Trump set up the White House Crypto Council, which plans to work with pro-crypto enthusiasts, CFTC, and the SEC.

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