CFTC Acting Chair Pham Warns No Easy Road for Digital Asset Bad Actors

Caroline Pham, the current Acting Chair of the Commodity Futures Trading Commission (CFTC), has emphasized that despite the regulator's new "pro-innovation" stance toward digital assets, there will be no "easy road" ahead. Speaking at the Coinbase 2025 State of Crypto Summit in New York City, Pham clarified that the agency's growth-friendly approach does not mean that bad actors will be let off easy.

Pham stated, "There is no easy street for anybody, and regulators aren’t easy. Just because we are pro-innovation and pro-growth does not mean that you’re going to get away with breaking the law. This is where I’m talking about not twisting the law to criminalize an asset class or technology, but I’m talking about lying, cheating, or stealing." She further added, "Fraud is always illegal. Those are criminals who deserve to be caught, punished, and held accountable."

Pham also expressed her enthusiasm for U.S. President Donald Trump’s pick to spearhead the CFTC, Brian Quintenz, as he makes his way through the nomination process. "I’m so excited for Brian to come and for him to come and bring his leadership to the CFTC," Pham said.

Pham’s comments come at a time when the federal watchdog is facing a major staffing shakeup. Four CFTC commissioners have announced their departure in recent months under the new Trump administration. In May, former Commissioner Summer Mersinger left the agency to take on a new role as CEO of the Blockchain Association. Pham herself is set to depart the CFTC once Quintenz formally begins his tenure sometime this year. No future CFTC commissioners have been announced by Trump, though given the aforementioned officials’ upcoming exits, it appears highly likely that he will do so in the near future.