In recent days, the discussion on cryptocurrency regulation in the USA has become more active. Caroline Pham, acting chair of the CFTC, shared her thoughts on the current state and future of the industry.
Market and Regulation
According to Caroline Pham, the Trump administration's more relaxed approach to cryptocurrencies does not mean that the CFTC will be lenient towards the industry. She emphasized that "there is no easy street for anybody" and that lawbreakers will not be overlooked.
Pham also highlighted that "just because we are pro-innovation and pro-growth does not mean that you can get away with breaking the law."
Transforming through Innovation
Pham explained her view on "uberizing" cryptocurrency, meaning that digital assets should be so widely adopted and integrated into daily life that banning or criminalizing them becomes politically impossible. "When something becomes so big, so accepted, so part of our lives, you can’t really take it away," she noted.
CLARITY Act Bill
On the same day, Pham commented on the approval of the CLARITY Act bill, which will clarify which regulator will oversee cryptocurrencies: the SEC or the CFTC, with the latter expected to gain more authority. Pham also announced her plans to move to the private sector.
Cryptocurrency regulation in the USA continues to evolve, with Pham emphasizing the importance of complying with laws and protecting the market from fraudsters. Future steps, such as the adoption of the CLARITY Act, may reshape the landscape of crypto-asset oversight in the country.