In a roundtable event to discuss the CFTC and the SEC working together, data about the CFTC’s enforcement actions since she became acting chair was rattled off by Caroline Pham.
Officials with the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) met for their first joint roundtable in roughly 14 years. The meeting was held to discuss “regulatory harmonization efforts,” including those that could potentially impact the cryptocurrency industry.
In the Monday roundtable, acting CFTC Chair Caroline Pham, who is also the last remaining commissioner at the agency following a string of departures and resignations in 2025, used her opening statement to discuss how the two agencies working together could significantly change the regulatory landscape for digital asset companies.
During his opening statement, SEC Chair Paul Atkins focused on cross-agency “collaboration, not consolidation,” clarifying there was no plan to merge the two agencies. That decision, it was noted, would be up to Congress and the President.
Pham stated that she would “take a moment to dispel some of the FUD [fear, uncertainty and doubt]” regarding the CFTC’s operations on crypto.
According to the acting CFTC chair, 18 actions that did not include enforcement cases were taken by the agency from January 20, when she took the helm at the regulator, until September 3. She reported that 13 enforcement actions had occurred during the same period, some of which included lawsuits involving digital assets, and 14 actions had been taken since September 4.
“I think you will see that the CFTC is alive and well, and there needs to be no more FUD about what’s going on on the other side of town,” Pham stated.
SEC-CFTC Roundtable Highlights Crypto Oversight Amid Budget Standoff
The SEC-CFTC roundtable, which was ongoing at the time of publication, included panels featuring executives from cryptocurrency companies Kraken and Crypto.com. Pham was the only currently serving member of the CFTC to attend the event, although former CFTC Chair J. Christopher Giancarlo and former commissioner Jill Sommers moderated panels.
The roundtable between the two U.S. financial regulators came as the government is poised for a potential shutdown amid partisan disputes over healthcare cuts from a July budget bill.
A shutdown would effectively halt all activities in Congress, including the consideration of a market structure bill in the Senate. This bill is expected to clarify the roles the SEC and CFTC would have in overseeing digital assets.
Successor for CFTC Chair Still Unnamed
In addition to a potential government shutdown halting legislation in Congress, it could further delay the confirmation of a replacement for Pham to head the CFTC. The acting chair said in May that she planned to move “to the private sector” if Trump’s pick, former commissioner Brian Quintenz, were to be confirmed by the Senate.
After Trump’s nomination of Quintenz in February, the Senate Agriculture Committee had been scheduled to vote on the prospective CFTC chair before recessing in August. However, it was reported by the committee that the White House requested the vote be delayed.
The White House’s request was reportedly made by Gemini co-founders Cameron and Tyler Winklevoss. The Winklevoss twins are supporters of Trump and had initially praised Quintenz’s nomination.
In September, texts between himself and the Winklevosses were released by the prospective CFTC head. The texts suggested that the Gemini co-founders wanted certain assurances regarding the agency’s enforcement actions.
As of Monday, Quintenz’s confirmation hearing had not appeared on Senate calendars, and it was suggested by reports that other candidates were being considered by Trump.
