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:

  • how Cmr. Pham got started in crypto and became a CFTC commissioner
  • the importance of the regulatory strategy around crypto
  • what crypto’s role is in the financial system
  • how bitcoin is a sort of money outside of the traditional financial system
  • how friendly regulators should be with the industries they regulate
  • why she believes transparency is one of the greatest ideals of American democracy
  • how Cmr. Pham believes in self-determination and the power of free markets
  • why Cmr. Pham published an op-ed with SEC Commissioner Hester Peirce
  • how the Terra collapse incentivized regulators to look deeper into the space
  • whether the US approach towards regulation can improve
  • the role of the regulatory agencies in making the US the financial leader of the world
  • what Cmr. Pham thinks about the new Gillibrand and Lummis bill
  • whether SEC Chair Gary Gensler is right about the majority of cryptos being securities
  • what are the low-hanging fruit opportunities for regulators when it comes to crypto
  • how Cmr. Pham believes we should have a global regulatory framework for crypto
  • why she believes algorithmic stablecoins are derivatives
  • why things like Terra could act as a “shadow banking 3.0”
  • whether there is a way to regulate without having intermediaries
  • what Cmr. Pham thinks about FTX proposal to bypass futures commission merchants

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Beefy Finance:

Caroline Pham

Stablecoin regulation

FTX proposal to serve as the trading engine for derivatives:

Hester Peirce

Gillibrand/Lummis bill: 



READ THE Episode Transcript HERE