Crypto payments firm MoonPay confirmed that Caroline D. Pham, the acting Chair of the US Commodity Futures Trading Commission (CFTC), will join the firm as Chief Legal Officer after she finishes her term at the derivatives regulator.

Her move comes as the CFTC faces a leadership transition and grapples with how far and how fast to stretch its reach over crypto markets.​

JUST RECEIVED VERY BULLISH NEWS

thank you to @Forbes and @ninabambysheva for this huge story about the newest member of the MoonPay team! pic.twitter.com/nGFqKQwhyQ

— MoonPay 🟣 (@moonpay) December 17, 2025

Pham’s Next Role at MoonPay

MoonPay said Pham will step in as chief legal officer, with the company also describing her remit as including chief administrative responsibilities and oversight of global legal and administrative functions.

She will lead MoonPay’s policy and regulatory strategy from Washington, underscoring the firm’s push to shape US rules governing crypto payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term and on‑ramps that convert fiat currencies into digital assets.

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In a recent social media post, Pham commented about the leadership changes at the agency, saying: “I’m looking forward to a successful confirmation of Mike Selig as the CFTC’s next chairman and a smooth transition once he is sworn in. The future is bright. Onward and upward.”

I’m looking forward to a successful confirmation of Mike Selig as the @CFTC’s next chairman and a smooth transition once he is sworn in. The future is bright. Onward and upward 🚀

— Caroline D. Pham (@CarolineDPham) December 17, 2025

From CFTC Acting Chair to Private Sector

Pham took over as acting chairman of the CFTC CFTC The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss The 1974 Commodity Exchange Act (CEA) in the United States created the Commodity Futures Trading Commission (CFTC). The Commission protects and regulates market activities against manipulation, fraud, and abuse trade practices and promotes fairness in futures contracts. The CEA also included the Sad-Johnson Agreement, which defined the authority and responsibilities for the monitoring of financial contracts between the Commodity Futures Trading Commission and the Securities and Exchange Commiss Read this Term in January after President Donald Trump appointed her to lead the agency on an interim basis.

During her tenure, the derivatives watchdog oversaw a pick‑up in activity around prediction markets, explored pathways for offshore crypto firms to return to the US, and signaled a more assertive enforcement push through what staff described as an “enforcement sprint” targeting firms in its sights.

The Handling of My Forex Funds Case

However, her leadership was not without controversy. Last year, Pham issued a statement urging swift action over alleged misconduct by CFTC staff in an enforcement case that involved Traders Global Group Inc., the operator of prop trading firm My Forex Funds.

A judge later threw out the commission’s complaint with prejudice against My Forex Funds operator. The court also granted a motion imposing sanctions on the regulator.

Trump has nominated Michael Selig, a lawyer with deep crypto policy experience, to serve as permanent CFTC chairman, but his appointment still awaits a full Senate vote.