U.S. CFTC Acting Chairman: Compliance requirements will not be relaxed due to the Trump administration's commitment to support the cryptocurrency industry

ChainCatcher news, according to CoinDesk, Caroline Pham, acting chair of the U.S. Commodity Futures Trading Commission (CFTC), stated at the Coinbase annual summit that although the Trump administration had an open attitude towards cryptocurrencies, regulators would not relax compliance requirements for the industry.

She emphasized that "supporting innovation does not mean condoning illegal activities," and the CFTC will focus on combating market fraud rather than criminalizing specific asset classes or technologies.

Pham criticized the Biden administration's regulatory approach of "overly expansive legal interpretations," pointing out that this tendency affects not only the crypto market but also traditional derivatives and foreign exchange markets. She believes that once crypto technology is widely adopted, a complete ban will become impractical.