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CFTC Acting Chair Caroline Pham Set to Join MoonPay.
Caroline Pham, Acting Chair of the U.S. Commodity Futures Trading Commission, will join crypto payments firm MoonPay following Senate confirmation of her successor. MoonPay announced the appointment on Wednesday in the United States. The move follows Pham’s stated plan to exit once a permanent chair is confirmed, with crypto lawyer Mike Selig expected to assume the role.

Transition From Regulator to Crypto Executive
Pham will serve as Chief Legal and Administrative Officer at MoonPay, according to the company. In this role, she will oversee global legal operations and administrative functions. She will also lead MoonPay’s policy and regulatory strategy in Washington. Pham has not announced an exact start date, though she expects to begin in the new year.

The transition comes as Mike Selig awaits Senate confirmation this week. Pham served nearly four years at the CFTC, including her final year as acting chair. During that period, she was the sole commissioner for several months. Before joining the CFTC, Pham spent seven years at Citigroup.

Crypto Policy Work at the CFTC
During her tenure, Pham led several crypto-focused initiatives. Notably, she launched the “Crypto Sprint,” aimed at modernizing digital asset regulation. The effort followed recommendations from the White House Digital Assets Report released in August.

On December 4, 2025, Pham announced that listed spot crypto products could trade in U.S. federally regulated markets. These trades occur through CFTC-registered futures exchanges.

She also introduced a pilot program allowing Bitcoin, Ether, and USDC as collateral in derivatives markets. Additionally, the CFTC explored tokenized Treasuries and money market funds for similar use.#BTCVSGOLD #USNonFarmPayrollReport #USJobsData #CPIWatch $BTC
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Why Tokenization Is Becoming Wall Street’s Next Upgrade?
Tokenization discussions accelerated after changes at the U.S. Securities and Exchange Commission, according to Domingo. He said SEC Chair Paul Atkins has supported responsible adoption of blockchain-based securities.

As a result, traditional firms became more willing to explore on-chain issuance without increased regulatory risk. However, regulatory clarity alone did not drive adoption. Domingo pointed to BlackRock’s decision in 2024 to tokenize assets with Securitize.

That move, notably from the world’s largest asset manager, drew attention across Wall Street. Soon after, firms including Apollo Group and JPMorgan increased activity around tokenized products.

Replacing Siloed Ledgers With On-Chain Records
Domingo explained that stocks, bonds and funds rely on fragmented ledgers that require constant reconciliation. Each trade, dividend, or redemption updates several disconnected systems. However, tokenization places ownership records on a single distributed ledger secured by cryptography.

This structure allows atomic settlement, where cash and securities exchange simultaneously. According to Domingo, that feature reduces intermediaries and releases capital faster. Settlement can occur instantly using stablecoins against tokenized securities. However, he noted that instant settlement remains optional, depending on market needs.

Market Size and Asset Focus
Securitize estimates the current tokenized asset market at $25 billion to $30 billion. Domingo said forecasts project growth toward $2 trillion over time. Even a reduced market share would represent substantial scale, based on those figures.

Early interest centered on illiquid assets, such as art and real estate. However, Domingo said focus shifted to highly liquid assets. Stablecoins represent tokenized dollars, while tokenized Treasuries rank second by size.
#CPIWatch #TrumpTariffs #USNonFarmPayrollReport #BinanceBlockchainWeek $BTC $BNB $ETH

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