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Could a pro-crypto leader shape the future of U.S. crypto regulations? Fox Business Reports suggest Donald Trump’s team is considering some big names for the Commodity Futures Trading Commission (CFTC) chair—and they’re crypto-friendly!
As of now, there are some grey areas in the US administration in terms of crypto, and to make it crypto-friendly we need a good contender in both the CFTC and SEC. While Trump is yet to take charge, the team behind him has started the homework of assigning key offices to their elected picks. However, there is already a controversy happening in the crypto world with the change of the SEC’s litigation officer, who is anti-crypto; it will be interesting to see who takes this big role, as there is a lot at stake.
Here are the key contenders for the role!
Who’s in the Running?
First up, Perianne Boring, CEO of the Digital Chamber of Commerce. In 2021, Perianne Boring urged President Biden to adopt a national blockchain strategy with clearer token regulations, fairer crypto tax policies, and blockchain-based solutions for money laundering. She’s also been a vocal critic of the SEC’s aggressive stance on crypto, arguing in 2023 that treating secondary market transactions as securities overreaches regulatory boundaries, as highlighted in a Coinbase insider trading case.
Then there’s Caroline Pham, a current CFTC commissioner. She’s already shown support for innovation, proposing pilot programs to regulate digital assets and calling for global regulatory cooperation. Her approach focuses on balancing innovation with risk management, making her a solid pick for the role.
Apart from them, Summer Mersinger, another CFTC commissioner, is also being considered for the top spot. While details about her stance on crypto are less clear, her inclusion shows the competition is heating up.
What This Means for Crypto in the U.S.
If Boring or Pham lands the role, it could signal a more balanced, innovation-friendly approach to crypto regulation. With the CFTC potentially taking the lead on digital assets, the U.S. crypto market could see clearer rules and fewer hurdles.
Trump’s team seeks to reverse Biden’s regulatory crackdown on crypto, aligning with industry calls for a more supportive framework. Moreover, Former CFTC leaders like Heath Tarbert and Brian Quintenz are advising on implementing pro-crypto policies. The final decisions, expected after the Treasury secretary is named, could mark a significant shift in how the U.S. governs digital assets.