Caroline Pham, Acting Chair of the Commodity Futures Trading Commission (CFTC), has announced plans to hold a series of public roundtable discussions to gather input on various market issues, including those related to crypto.
The CFTC roundtables will engage with industry leaders, market participants, and public interest groups to discuss developing trends and innovations in market structure.
Roundtable Discussions on the Crypto Market
In a notice released by the CFTC today, Pham announced that the CFTC will organize discussions on issues including affiliated entities and conflicts of interest, prediction markets, and digital assets.
The roundtables are intended to increase transparency and public engagement within the CFTC’s policymaking process.
“Innovation and new technology has created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks. The CFTC will get back to basics by hosting staff roundtables that will develop a robust administrative record with studies, data, expert reports, and public input. A holistic approach to evolving market trends will help to establish clear rules of the road and safeguards that will promote US economic growth and American competitiveness,” Pham said.
These discussions will bring together industry leaders, market participants, market structure experts, and representatives from public interest groups. The goal is to engage in open and transparent dialogue on key market issues.
According to the notice, the CFTC will soon provide further details regarding the dates, times, and specific topics for these roundtable discussions.
Less than a week ago, CFTC commissioners elected Pham as the regulator’s newest acting chair following President Trump’s inauguration. Previously, Pham had served as CFTC commissioner since April 2022.
Pham replaced former CFTC Chair Rostin Benham, who will remain at the CFTC until February 7. As confirmed by the Senate, she will continue to lead the CFTC until Trump nominates a permanent head of the regulator.
“Acting Chair Pham is pulling in the big dogs—industry leaders, groups, and other stakeholders—to dive into the messy stuff like conflicts of interest. It’s all about building clearer rules and keeping US competitiveness on point. These roundtables could totally change how crypto operates under the law, so keep your eyes peeled for updates,” Mario Nawfal wrote on X (formerly Twitter).
Pham has long supported friendly regulation. A year after joining the CFTC, she delivered a very pro-crypto speech to the Cato Institute. In it, she outlined that the CFTC should follow the same regulatory approach to the cryptocurrency market that it has applied to other emerging asset classes.
According to Pham, crypto regulation lacks clarity and proactive guardrails. She also discussed the need for “responsible innovation” and a “compliant” digital asset market.
The CFTC’s Recent Regulations in the Crypto Sector
In the US, regulations for digital assets are divided between two primary agencies: the CFTC and the SEC.
The CFTC’s jurisdiction primarily extends to crypto assets classified as commodities under US law. This includes cryptocurrencies such as Bitcoin and Ethereum.
The commissioner’s regulatory authority specifically encompasses commodity derivatives, which include financial contracts derived from underlying commodities. Its responsibilities include crypto futures contracts and options, which are derivatives based on the price of cryptocurrencies.
Earlier this month, reports suggested that the regulator was reviewing Crypto.com’s sports betting futures. The contracts, tied to the Super Bowl, face scrutiny amid rising concerns about prediction markets.
The CFTC is conducting a 90-day review of these contracts. While the agency does not have the authority to halt trading immediately, it can ban these contracts upon completion of the review process.
On January 9, the CFTC reportedly issued a subpoena to Coinbase, the largest US-based crypto exchange. The regulator seeks information about the crypto-based prediction market platform Polymarket.
While users are not required to take immediate action, the exchange stated that certain user account data may be necessary to be shared with the regulatory agency.
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