CFTC’s Caroline Pham Pushes Forward With New Crypto Innovation Council

U.S. Commodity Futures Trading Commission (CFTC) interim chief Caroline Pham is accelerating her crypto-focused initiatives as her term nears its end, announcing plans to form a new CEO Innovation Council aimed at shaping future digital asset policy. Pham opened a short nomination window that closes on December 8, calling for recommendations of top industry leaders and key topics the council should prioritize. Suggestions can be submitted directly to [email protected].

Pham emphasized that the CFTC must be fully prepared to oversee expanding markets, including crypto and digital assets, while maintaining strong protections for all market participants. Her latest move reflects a broader effort to foster public engagement and leverage insights from executives building the next wave of financial innovation.

Her leadership comes at a time of transition for the agency. President Donald Trump elevated Pham to acting chair at the start of his administration, but the CFTC’s five-member commission has since dwindled to just one—Pham herself. Trump’s latest nominee for a permanent chair, Mike Selig, recently advanced through the Senate Agriculture Committee, yet the full Senate vote remains uncertain due to the holiday recess.

Despite the possibility of her tenure ending soon—and reports suggesting she could move to MoonPay as its chief legal and chief administrative officer—Pham continues to push aggressive crypto regulatory initiatives. She has been advocating for CFTC-registered platforms to begin listing leveraged spot crypto products, arguing the agency has clear legal authority to do so. Pham is also advancing work on tokenized collateral, expected to include stablecoins, and pursuing rulemaking to integrate blockchain technology into several CFTC regulations.

The forthcoming CEO Innovation Council builds on the crypto CEO forum she launched earlier this year, reinforcing her commitment to modernizing U.S. market oversight and supporting responsible digital asset innovation.