Key Highlights
- Caroline Pham leaves CFTC Acting Chair role to join MoonPay as Chief Legal Officer and Chief Administrative Officer.
- Pham led CFTC’s Crypto Sprint, launched the Digital Asset Markets Pilot Program, and approved the first U.S. spot crypto products.
- Her move highlights the growing “revolving door” between U.S. regulators and the cryptocurrency industry.
Caroline Pham, the Acting Chair of the U.S. Commodity Futures Trading Commission (CFTC), is set to leave the regulator to join crypto finance company MoonPay, the firm confirmed on December 17.
Pham will take on the role of Chief Legal Officer and Chief Administrative Officer at MoonPay after the Senate confirms her successor at the CFTC. She will lead MoonPay’s global legal and administrative functions and guide the company’s regulatory and policy strategy in Washington, D.C.
Speaking about her appointment, Pham stated, “I’m excited to join MoonPay at a pivotal moment.”
Strategic hire for MoonPay
MoonPay CEO Ivan Soto-Wright emphasized Pham’s regulatory expertise as crucial for the company’s growth strategy. He said, “Her unparalleled experience, which combines regulatory expertise, traditional finance, and a deep understanding of market structure, makes her the perfect leader to guide MoonPay through our next chapter of growth and compliance excellence.”
Soto-Wright also shared a post on X stating, “Her leadership at the CFTC has shaped policies that expand financial freedom and crypto innovation. Now we’ll turn that progress into real outcomes for users and partners globally.”
Pham’s move follows the nomination of Michael Selig by President Donald Trump to become the next CFTC Chair. A confirmation hearing for Selig is scheduled this week, though Pham’s official start date at MoonPay is not yet confirmed.
Pham’s contributions to crypto regulations
Pham, who was appointed as Acting Chair in January 2025, has played a significant role in shaping U.S. digital asset policy throughout the year. During her tenure, she launched initiatives under the CFTC’s “Crypto Sprint,” aimed at clarifying regulations for the cryptocurrency industry and modernizing market oversight.
Last week, she announced the agency would withdraw guidance on the “actual delivery” of digital assets, describing it as “outdated and overly complex.” Earlier this month, she also oversaw the first regulator-approved spot crypto products trading through a CFTC-registered futures exchange.
Background and past roles
Before joining the CFTC, Pham served as a Managing Director at Citigroup, where she held several leadership roles, including Head of Market Structure for Strategic Initiatives. She was sworn in as a CFTC Commissioner in 2022 and was unanimously elected Acting Chair in early 2025.
During her time at the commission, she introduced a modernization agenda covering perpetual-style futures, extended trading hours, prediction markets, tokenized collateral guidance, and the launch of the Digital Asset Markets Pilot Program.
Revolving door scrutiny in the industry
Pham’s departure from the CFTC has highlighted the ongoing “revolving door” between government regulatory agencies and the cryptocurrency industry, a practice that has drawn scrutiny from lawmakers, including Senator Elizabeth Warren.
Warren has already expressed concerns that government officials may use their government positions to get employment in crypto businesses or lobbying organizations, citing examples of more than 200 officials who have moved to work in the private sector in digital asset positions.
Other attempts of this nature have happened recently, such as the departure of former CFTC Commissioner Summer Mersinger who joined the Blockchain Association as CEO in May 2025.
The move to MoonPay by Pham follows the ongoing expansion and regulatory trends in the industry, which supports the growing integration of U.S. policymakers and the digital asset industry.
Her experience in both traditional finance and regulatory oversight positions her to influence compliance and policy strategy as the crypto sector continues to evolve.
Also Read: Bitnomial Secures CFTC Approval for Regulated Prediction Markets
