Acting Chair of the Commodity Futures Trading Commission (CFTC), Caroline Pham, is set to join the cryptocurrency payment platform MoonPay as Chief Legal and Administrative Officer. This transition marks the conclusion of her nearly four-year tenure at the CFTC, during which she served a significant final year as acting chair. Pham’s move comes as her successor, Mike Selig, awaits Senate confirmation.
At MoonPay, Pham will be tasked with overseeing the firm’s global legal operations and regulatory strategies, bringing invaluable insights gained from her time at the CFTC. During her tenure there, she was instrumental in implementing noteworthy reforms aimed at modernizing crypto regulations, which included initiatives to incorporate listed spot cryptocurrency products into federally regulated markets.
In addition, Pham led the launch of a pilot program that permitted the use of Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) as collateral in derivatives trading. She also took significant steps to update the regulatory framework surrounding digital assets by proposing the rescission of antiquated guidelines on asset delivery. Her contribution to the establishment of the CFTC CEO Innovation Council and the initiation of a regulatory sandbox for tokenized Treasuries and money market funds highlighted her commitment to fostering innovation within the sector.
Moreover, Pham’s collaborative efforts with U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins represented a strategic shift towards enhanced coordination between the two agencies, addressing key issues in cryptocurrency, decentralized finance (DeFi), and derivatives.
MoonPay’s CEO, Ivan Soto-Wright, praised Pham as “one of the most influential leaders in U.S. financial regulation,” affirming that she is the ideal choice to guide the company through its next phase. Her extensive background also includes seven years at Citigroup prior to her role at the CFTC, underscoring her significant experience in the financial sector.
