Caroline Pham, currently serving as the acting chair of the Commodity Futures Trading Commission (CFTC), is set to transition to MoonPay, where she will take on the roles of Chief Legal Officer and Chief Administrative Officer once a new chair is named. This move follows her appointment as acting chair on January 20, 2025, coinciding with Donald Trump’s inauguration as President.
Pham was confirmed by a vote from five members of the CFTC after her predecessor, Rostin Behnam, resigned. Since then, the agency has been without a permanent chairman, creating an opportunity for Pham to continue her role. She has openly stated her intention to leave once a new chair is confirmed.
In a relevant development, President Trump has nominated Michael Selig to replace Pham as the CFTC chairman. Selig previously served in the agency under former Chairman Chris Giancarlo and is currently the chief counsel for the SEC’s Crypto Task Force. His confirmation hearing is expected soon.
Pham’s upcoming role at MoonPay is significant as it will leverage her extensive experience as a former U.S. regulator. She has garnered recognition for her work related to enforcement priorities, guidance withdrawals, and the approval of new trading products. This experience comes at a pivotal time for MoonPay, which is actively repositioning itself within the financial services landscape.
The company has recently expanded its platform, drawing interest from various payment firms and consumer brands exploring blockchain-based tools. For instance, Arkham Exchange recently integrated MoonPay’s fiat-to-crypto services, allowing KYC-verified users to deposit funds using credit cards, bank transfers, and digital wallets.
Additionally, MoonPay achieved a Limited Purpose Trust charter from the New York State Department of Financial Services (NYDFS) along with a BitLicense for virtual currency activities. These approvals enable MoonPay to provide services related to digital asset custody and over-the-counter trading. Currently, MoonPay is fully licensed in the U.S. and regulated in the UK, EU, Canada, and Australia, marking a significant milestone as it harnesses its regulatory advancements for further growth.
