CFTC Commissioner Caroline Pham on Why US Crypto Regulators Get a B- Ep. 365

Published: June 21, 2022, 2:30 a.m.

Caroline Pham, commissioner at the Commodities Futures Trading Commission, discusses how we should build a regulatory framework for crypto assets, whether the SEC and CFTC should work together, what were the consequences of the Terra collapse, and much more. Show highlights:\n\nhow Cmr. Pham got started in crypto and became a CFTC commissioner\n\nthe importance of the regulatory strategy around crypto\n\nwhat crypto\u2019s role is in the financial system\n\nhow bitcoin is a sort of money outside of the traditional financial system\n\nhow friendly regulators should be with the industries they regulate\n\nwhy she believes transparency is one of the greatest ideals of American democracy\n\nhow Cmr. Pham believes in self-determination and the power of free markets\n\nwhy Cmr. Pham published an op-ed with SEC Commissioner Hester Peirce\n\nhow the Terra collapse incentivized regulators to look deeper into the space\n\nwhether the US approach towards regulation can improve\n\nthe role of the regulatory agencies in making the US the financial leader of the world\n\nwhat Cmr. Pham thinks about the new Gillibrand and Lummis bill\n\nwhether SEC Chair Gary Gensler is right about the majority of cryptos being securities\n\nwhat are the low-hanging fruit opportunities for regulators when it comes to crypto\n\nhow Cmr. Pham believes we should have a global regulatory framework for crypto\n\nwhy she believes algorithmic stablecoins are derivatives\n\nwhy things like Terra could act as a \u201cshadow banking 3.0\u201d\n\nwhether there is a way to regulate without having intermediaries\n\nwhat Cmr. Pham thinks about FTX proposal to bypass futures commission merchants\xa0\n\n\xa0\nThank you to our sponsors!\n\xa0\nCrypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021\xa0\nBeefy Finance: https://beefy.finance/\n\xa0\nEPISODE LINKS\n\xa0\nCaroline Pham\n\nTwitter: https://twitter.com/CarolineDPham\n\n\nCFTC Profile: https://www.cftc.gov/About/Commissioners/CarolineDPham/index.htm\n\n\n\nStablecoin regulation\n\xa0\n\nFinancial Times article: https://www.ft.com/content/981c380f-bb1c-45bd-8d0d-a95b15d96a00\n\n\nCNBC on crypto regulation: https://www.cnbc.com/2022/06/03/cryptocurrency-industry-focus-regulation-stablecoins-market-crash.html\n\n\nUnchained Coverage: Why Crypto Twitter\u2019s Disrespect Toward Regulators Is a \u2018Really Bad Business Decision\u2019: https://unchainedpodcast.com/why-crypto-twitters-disrespect-toward-regulators-is-a-really-bad-business-decision/\n\n\nUnchained Coverage: Can a DeFi Smart Contract Be Regulated? Two CFTC Commissioners Discuss: https://unchainedpodcast.com/can-a-defi-smart-contract-be-regulated-two-cftc-commissioners-discuss/\n\n\nFTX proposal to serve as the trading engine for derivatives:\n\n https://www.forbes.com/sites/jasonbrett/2022/04/27/the-ftx-us-proposal-that-shook-congress-and-the-crypto-derivatives-world/?sh=3dac29ef4e19\n\nUnchained Coverage: FTX Wants to Compete with CME \u2013 Here\u2019s Why It\u2019s a Big Deal: https://unchainedpodcast.com/ftx-wants-to-compete-with-cme-heres-why-its-a-big-deal/\n\n\n\xa0\nHester Peirce\n\nCaroline\u2019s op-ed with SEC Commissioner Hester Peirce: https://thehill.com/blogs/congress-blog/3503277-making-progress-on-decentralized-regulation-its-time-to-talk-about-crypto-together/\n\n\nHester Peirce's token safe harbor proposal: https://decrypt.co/66453/secs-hester-peirce-floats-revised-crypto-safe-harbor-rules\n\n\nUnchained Coverage: Hester Peirce\u2019s Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF: https://unchainedpodcast.com/hester-peirces-former-counsel-on-terra-2-0-xrp-and-a-bitcoin-spot-etf/\n\n\n\nLearn more about your ad choices. Visit megaphone.fm/adchoices