CFTC Acting Chair Caroline Pham made it clear: The Trump administration's friendliness towards encryption "must also comply with the law".

CFTC acting chair Caroline Pham publicly stated at the Coinbase Summit that "there is no easy road" and that even if the Trump administration is close to the crypto industry, regulation must still be tough, and the market must put compliance into its core strategy. (Synopsis: Brian Quintenz, Trump's nominee for new CFTC chairman: Blockchain will change the world and keep the U.S. ahead of the curve) (Background added: Former CFTC Chairman Rostin Behnam: Non-derivative cryptocurrencies "have no legal control", Congress cheers? CFTC acting chair Caroline Pham bluntly told the Coinbase Annual Summit on Thursday: "There is no easy road." Even if the Trump administration is friendly to bitcoin, regulators will still keep an eye on fraud, manipulation and theft. In an exclusive interview with Yahoo Finance, she stressed that supporting innovation does not mean ignoring the rules. CFTC Acting Chair Caroline Pham | Source: Yahoo Finacial CFTC: Friendly policies do not mean rules can be evaded Since taking office in January, the Trump administration has shouted tax cuts and supported bitcoin mining in the United States, but the CFTC's position has not loosened. Pham says she wants to end the era of "enforcement instead of rules" and switch to a predictable framework. "We need to set clear rules first so that market participants understand the boundaries, rather than relying on raid enforcement to set precedents." According to the summit briefing quoted by Cointelegraph, the CFTC will next focus on combating fraud and market manipulation, while giving more clear legal guidance to compliant companies. Regulatory sequelae of the Biden era Caroline Pham directly criticized the Biden administration for "distorting the law" and overextending regulatory authority. "When the CFTC fights with the SEC, the financial ecosystem buys together," she said. Pham uses the metaphor of "Uberizing crypto" (Uberized encryption), when encryption services are as ubiquitous as ride-hailing apps, it is difficult to ban them altogether. On June 11, the House Financial Services Committee passed the CLARITY Act, which proposed to separate "digital goods" from "investment contract assets" and give the main regulatory authority to the CFTC. If the bill is passed by the whole house, DeFi and derivatives platforms will need to register with the CFTC. Related reports Trump boasted: The immigration gold card attracted 1.5 millionaires to register overnight, bringing $75 billion to the United States Why did Musk admit his mistake to Trump? WSJ: Vice President Vance mediates, Tesla's stock price rebounds The US CPI in May was lower than expected, and Trump shouted: the Fed should immediately cut interest rates by 1%, which can pay a lot less interest "CFTC acting chairman Caroline Pham pointed out: The Trump administration is friendly to crypto and "must also abide by the law"" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".