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: <ul> <li style="font-weight: 400;" aria-level="1">how Cmr. Pham got started in crypto and became a CFTC commissioner</li> <li style="font-weight: 400;" aria-level="1">the importance of the regulatory strategy around crypto</li> <li style="font-weight: 400;" aria-level="1">what crypto’s role is in the financial system</li> <li style="font-weight: 400;" aria-level="1">how bitcoin is a sort of money outside of the traditional financial system</li> <li style="font-weight: 400;" aria-level="1">how friendly regulators should be with the industries they regulate</li> <li style="font-weight: 400;" aria-level="1">why she believes transparency is one of the greatest ideals of American democracy</li> <li style="font-weight: 400;" aria-level="1">how Cmr. Pham believes in self-determination and the power of free markets</li> <li style="font-weight: 400;" aria-level="1">why Cmr. Pham published an op-ed with SEC Commissioner Hester Peirce</li> <li style="font-weight: 400;" aria-level="1">how the Terra collapse incentivized regulators to look deeper into the space</li> <li style="font-weight: 400;" aria-level="1">whether the US approach towards regulation can improve</li> <li style="font-weight: 400;" aria-level="1">the role of the regulatory agencies in making the US the financial leader of the world</li> <li style="font-weight: 400;" aria-level="1">what Cmr. Pham thinks about the new Gillibrand and Lummis bill</li> <li style="font-weight: 400;" aria-level="1">whether SEC Chair Gary Gensler is right about the majority of cryptos being securities</li> <li style="font-weight: 400;" aria-level="1">what are the low-hanging fruit opportunities for regulators when it comes to crypto</li> <li style="font-weight: 400;" aria-level="1">how Cmr. Pham believes we should have a global regulatory framework for crypto</li> <li style="font-weight: 400;" aria-level="1">why she believes algorithmic stablecoins are derivatives</li> <li style="font-weight: 400;" aria-level="1">why things like Terra could act as a “shadow banking 3.0”</li> <li style="font-weight: 400;" aria-level="1">whether there is a way to regulate without having intermediaries</li> <li style="font-weight: 400;" aria-level="1">what Cmr. Pham thinks about FTX proposal to bypass futures commission merchants </li> </ul>   Thank you to our sponsors!   <a href="http://crypto.com/">Crypto.com</a>: <a href= "https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021"> https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021</a>  Beefy Finance: <a href= "https://beefy.finance/">https://beefy.finance/</a>   EPISODE LINKS   Caroline Pham <ul> <li style="font-weight: 400;" aria-level="1">Twitter: <a href= "https://twitter.com/CarolineDPham">https://twitter.com/CarolineDPham</a></li> <li style="font-weight: 400;" aria-level="1">CFTC Profile: <a href= "https://www.cftc.gov/About/Commissioners/CarolineDPham/index.htm"> https://www.cftc.gov/About/Commissioners/CarolineDPham/index.htm</a></li> </ul> Stablecoin regulation   <ul> <li style="font-weight: 400;" aria-level="1">Financial Times article: <a href= "https://www.ft.com/content/981c380f-bb1c-45bd-8d0d-a95b15d96a00"> https://www.ft.com/content/981c380f-bb1c-45bd-8d0d-a95b15d96a00</a></li> <li style="font-weight: 400;" aria-level="1">CNBC on crypto regulation: <a href= "https://www.cnbc.com/2022/06/03/cryptocurrency-industry-focus-regulation-stablecoins-market-crash.html"> https://www.cnbc.com/2022/06/03/cryptocurrency-industry-focus-regulation-stablecoins-market-crash.html</a></li> <li style="font-weight: 400;" aria-level="1">Unchained Coverage: Why Crypto Twitter’s Disrespect Toward Regulators Is a ‘Really Bad Business Decision’: <a href= "https://unchainedpodcast.com/why-crypto-twitters-disrespect-toward-regulators-is-a-really-bad-business-decision/"> https://unchainedpodcast.com/why-crypto-twitters-disrespect-toward-regulators-is-a-really-bad-business-decision/</a></li> <li style="font-weight: 400;" aria-level="1">Unchained Coverage: Can a DeFi Smart Contract Be Regulated? Two CFTC Commissioners Discuss: <a href= "https://unchainedpodcast.com/can-a-defi-smart-contract-be-regulated-two-cftc-commissioners-discuss/"> https://unchainedpodcast.com/can-a-defi-smart-contract-be-regulated-two-cftc-commissioners-discuss/</a></li> </ul> FTX proposal to serve as the trading engine for derivatives: <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://www.forbes.com/sites/jasonbrett/2022/04/27/the-ftx-us-proposal-that-shook-congress-and-the-crypto-derivatives-world/?sh=3dac29ef4e19"> https://www.forbes.com/sites/jasonbrett/2022/04/27/the-ftx-us-proposal-that-shook-congress-and-the-crypto-derivatives-world/?sh=3dac29ef4e19</a></li> <li style="font-weight: 400;" aria-level="1">Unchained Coverage: FTX Wants to Compete with CME – Here’s Why It’s a Big Deal: <a href= "https://unchainedpodcast.com/ftx-wants-to-compete-with-cme-heres-why-its-a-big-deal/"> https://unchainedpodcast.com/ftx-wants-to-compete-with-cme-heres-why-its-a-big-deal/</a></li> </ul>   Hester Peirce <ul> <li style="font-weight: 400;" aria-level="1">Caroline’s op-ed with SEC Commissioner Hester Peirce: <a href= "https://thehill.com/blogs/congress-blog/3503277-making-progress-on-decentralized-regulation-its-time-to-talk-about-crypto-together/"> https://thehill.com/blogs/congress-blog/3503277-making-progress-on-decentralized-regulation-its-time-to-talk-about-crypto-together/</a></li> <li style="font-weight: 400;" aria-level="1">Hester Peirce's token safe harbor proposal: <a href= "https://decrypt.co/66453/secs-hester-peirce-floats-revised-crypto-safe-harbor-rules"> https://decrypt.co/66453/secs-hester-peirce-floats-revised-crypto-safe-harbor-rules</a></li> </ul> <ul> <li style="font-weight: 400;" aria-level="1">Unchained Coverage: Hester Peirce’s Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF: <a href= "https://unchainedpodcast.com/hester-peirces-former-counsel-on-terra-2-0-xrp-and-a-bitcoin-spot-etf/"> https://unchainedpodcast.com/hester-peirces-former-counsel-on-terra-2-0-xrp-and-a-bitcoin-spot-etf/</a></li> </ul> Gillibrand/Lummis bill:  <ul> <li style="font-weight: 400;" aria-level="1"><a href= "https://fortune.com/2022/06/09/cryptocurrency-senate-washington-lummis-gillibrand-regulation-congress/"> https://fortune.com/2022/06/09/cryptocurrency-senate-washington-lummis-gillibrand-regulation-congress/</a></li> <li style="font-weight: 400;" aria-level="1">Proposed Crypto Legislation is ‘Big Win’: <a href= "https://unchainedpodcast.com/proposed-crypto-legislation-is-big-win/"> https://unchainedpodcast.com/proposed-crypto-legislation-is-big-win/</a></li> </ul>   Terra: <ul> <li style="font-weight: 400;" aria-level="1">Bloomberg on Terra collapse: <a href= "https://www.bloomberg.com/news/articles/2022-05-24/terra-collapse-triggers-83-billion-decentralized-finance-slump"> https://www.bloomberg.com/news/articles/2022-05-24/terra-collapse-triggers-83-billion-decentralized-finance-slump</a></li> <li style="font-weight: 400;" aria-level="1">SEC investigation of Terra: <a href= "https://decrypt.co/102460/sec-terra-ust-stablecoin-collapse-report"> https://decrypt.co/102460/sec-terra-ust-stablecoin-collapse-report</a></li> <li style="font-weight: 400;" aria-level="1">Unchained Coverage: The Chopping Block: Does the New Terra Have Any Chance?: <a href= "https://unchainedpodcast.com/the-chopping-block-does-the-new-terra-have-any-chance/"> https://unchainedpodcast.com/the-chopping-block-does-the-new-terra-have-any-chance/</a></li> <li style="font-weight: 400;" aria-level="1">Unchained Coverage: Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed: <a href= "https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/"> https://unchainedpodcast.com/why-terra-collapsed-and-whether-an-algo-stablecoin-can-ever-succeed/</a></li> </ul>

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CFTC Commissioner Caroline Pham on Why US Crypto Regulators Get a B- Ep. 365

Unchained