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CFTC Acting Chair: Will not ease compliance requirements due to Trump's administration's promise to support the encryption industry.
On June 13, according to CoinDesk, Caroline Pham, acting chair of the Commodity Futures Trading Commission (CFTC), stated at the CEX annual summit that although the Trump administration had an open attitude towards Crypto Assets, regulators would not relax compliance requirements for the industry. She emphasized that "supporting innovation does not mean condoning illegal activities," and the CFTC would focus on combating market fraud rather than criminalizing specific asset classes or technologies themselves. Pham criticized the Biden administration's regulatory approach of "over-expanding legal interpretations," pointing out that this trend affects not only the crypto market but also impacts the traditional derivation and forex markets. She believes that once encryption technology is widely adopted, a total ban will become unrealistic.