The acting chair of the CFTC, Caroline Pham, stated that the Trump administration's relaxed attitude towards cryptocurrency does not mean the industry will be easily regulated. Pham emphasized that "there is no easy path for anyone" and regulators will not tolerate illegal activities.
She stated that the CFTC has ended its "enforcement through regulation" and is focusing on catching fraudsters in the market. Pham criticized the Biden administration for overstepping legal regulations, harming the derivatives and foreign exchange markets.
She also explained the concept of "uberizing cryptocurrency," meaning making digital assets so popular that banning them becomes impossible. Ultimately, the CLARITY bill on the structure of the cryptocurrency market is progressing in the House of Representatives.
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Caroline Pham of the CFTC: There will be no 'easy path' granted to anyone, including cryptocurrency.
The acting chair of the CFTC, Caroline Pham, stated that the Trump administration's relaxed attitude towards cryptocurrency does not mean the industry will be easily regulated. Pham emphasized that "there is no easy path for anyone" and regulators will not tolerate illegal activities.
She stated that the CFTC has ended its "enforcement through regulation" and is focusing on catching fraudsters in the market. Pham criticized the Biden administration for overstepping legal regulations, harming the derivatives and foreign exchange markets.
She also explained the concept of "uberizing cryptocurrency," meaning making digital assets so popular that banning them becomes impossible. Ultimately, the CLARITY bill on the structure of the cryptocurrency market is progressing in the House of Representatives.