Basri Caneri 
Caroline Pham, appointed by US President Donald Trump, has made significant changes to senior positions at the Commodity Futures Trading Commission (CFTC) following her appointment as acting chair of the agency.
On January 22, Pham announced a new leadership team to lead the CFTC’s work in the crypto industry. These changes include the appointment of new interim directors in the market supervision and enforcement divisions, as well as a senior position to lead communications on cryptocurrencies and decentralized finance (DeFi).
Harry Jung Named Head of Crypto Studies
Pham announced the appointment of former policy advisor Harry Jung as “interim managing director” to lead the CFTC’s work on cryptocurrencies, DeFi and other digital assets. Jung is notable for having a law degree, having served as a manager at Morgan Stanley and as a vice president at CitiBank.
Crypto investor Monolith noted that Jung’s past experience, especially in banking and management, could bring an “interesting approach” to crypto regulation.
New Appointments and Winds of Change in the Organization
Among other important changes at the CFTC:
- Meaghan Tente was appointed acting director.
- Taylor Foy moves to the Office of Public Affairs from senior counsel to Pham.
- Tom Smith was named leader of the market participants division.
Pham thanked former CFTC chairman Rostin Behnam and the previous leadership team for raising concerns about regulatory shortcomings, particularly in the crypto industry.
Crypto Regulations and Record Fines
These changes in the CFTC’s leadership come on the heels of the agency’s record-breaking $17.1 billion in fines and settlements in fiscal year 2024. A large portion of this figure stemmed from crypto-related cases.
According to data released in December 2024:
- $2.6 billion came from civil monetary penalties (CMPs).
- 14.5 billion dollars were secured through the recovery of illicit gains and reparations.
The Trump Administration’s Crypto Vision
It was previously reported that the Trump administration plans to transfer oversight of the crypto industry from the Securities and Exchange Commission (SEC) to the CFTC. This change has created expectations for a friendlier regulatory approach in the industry.
CoinFund President Christopher Perkins said on social media platform X that he welcomes the CFTC’s involvement in crypto.
These changes are considered part of the CFTC’s efforts to reshape its regulatory role in the crypto industry.
Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.