Acting CFTC Chair Caroline Pham to Join Crypto Payments Firm MoonPay

Caroline Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), will leave the financial regulator to join cryptocurrency payments infrastructure company MoonPay as its Chief Legal and Administrative Officer. MoonPay confirmed the appointment in a Wednesday social media post.

Pham became acting chair in January amid the presidential administration changeover and has been the sole Republican commissioner at the CFTC for months following the end of other leaders' terms and resignations. Her departure coincides with the Senate confirmation vote for CFTC Chair nominee Michael Selig, a Securities and Exchange Commission official nominated by the White House after an earlier nominee, Brian Quintenz, was withdrawn following pushback from Gemini co-founders Cameron and Tyler Winklevoss.

This transition represents one of the highest-profile moves of a sitting U.S. financial regulator to a cryptocurrency company. During her tenure as acting chair, Pham's agenda aligned with White House directives, including those related to cryptocurrency. She reported in September that the CFTC had taken only 18 actions under her leadership, with no enforcement cases. She also launched the Crypto CEO Forum and CEO Innovation Council, which included leaders from crypto companies.

Pham's move follows a similar pattern seen earlier this year when another CFTC commissioner, Summer Mersinger, left the agency in May to become CEO of the Blockchain Association, a crypto advocacy group. These transitions have drawn criticism from some lawmakers, including Massachusetts Senator Elizabeth Warren, who has raised concerns about a "revolving door" between government regulatory positions and crypto industry roles. A 2022 letter signed by Warren and other lawmakers cited reports claiming "over 200 government officials" had taken positions at crypto companies.

In her new role, Pham will oversee MoonPay's policy and regulatory strategy, compliance programs, and legal operations. Her appointment signals MoonPay's strategic focus on regulatory excellence as a competitive advantage and reflects the growing convergence between traditional finance regulation and the cryptocurrency industry.