CFTC Acting Chair Pham: Supporting encryption innovation does not mean condoning illegal activities. Compliance regulation will continue.

[Block Rhythm] On June 13, Caroline Pham, the acting chair of the Commodity Futures Trading Commission (CFTC), stated at the Coinbase Annual Summit that although the Trump administration has an open attitude towards Crypto Assets, regulators will not relax compliance requirements for the industry. She emphasized that ‘supporting innovation does not equate to condoning illegal activities,’ and the CFTC will focus on combating market fraud rather than criminalizing specific asset classes or technologies themselves.

Pham criticized the Biden administration’s regulatory approach of “overexpanding legal interpretations,” pointing out that this tendency not only affects the Crypto Assets market but also impacts traditional derivatives and foreign exchange markets. She believes that once encryption technology is widely adopted, a complete ban will become impractical.