CFTC Acting Chair Caroline Pham publicly criticized CFTC’s enforcement division's toxic approach and pledged to restore regulatory clarity

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As Acting CFTC Chair Caroline Pham has publicly criticized the enforcement division's toxic culture and called for reform, Gemini said it's encouraged by these efforts. Still, it warns that fixing the division will require "serious introspection and long-term commitment."

The agency’s acting chair claimed that the CFTC will no longer “twist the law to criminalize an asset class or a technology,” focusing instead on its “core mission” to catch bad actors and prevent fraud, manipulation, and scammers in the market.