Mike Selig is on the verge of being confirmed as the new head of the U.S. Commodity Futures Trading Commission (CFTC), paving the way for Caroline Pham to finalize her transition to the cryptocurrency firm MoonPay. Serving as the acting chairperson of the CFTC, Pham has long expressed her intention to take on a dual role as chief legal officer and chief administrative officer at MoonPay, a financial technology company that has recently secured a trust charter in New York.
In a statement made public on Wednesday, Pham expressed her excitement about this new chapter, emphasizing the significance of her move at such a critical time for the company. She indicated her intent to facilitate a smooth handover once Selig is officially sworn in as the successor to her position. “The future is bright,” she shared on social media platform X, reflecting on her plans ahead.
Pham’s tenure at the CFTC includes a notable focus on fostering a crypto-friendly regulatory landscape, with several initiatives unveiled recently that align with this vision. Her agenda has coincided with Selig’s confirmation process in the Senate, which is expected to occur soon as part of a broader package of nominees.
Currently serving at the U.S. Securities and Exchange Commission (SEC), Selig has been instrumental in shaping crypto policy, which aligns with the strategic direction of MoonPay. The company’s co-founder and CEO, Ivan Soto-Wright, praised Pham in a statement, referring to her as one of the most influential figures in U.S. financial regulation and recognizing her capability in guiding MoonPay during its expansion and compliance efforts.
At MoonPay, Pham will be responsible for steering the company’s policy and regulatory strategy, particularly in Washington, emphasizing a secure framework for its operations, which include crypto trading, payments, and stablecoin infrastructure. While the company holds a New York BitLicense, it operates independently of direct regulation by the CFTC, allowing it to navigate the evolving landscape of digital asset regulation with Pham at the helm.
