Caroline Pham: Cryptocurrency can be advanced through rules set by regulatory agencies

Caroline Pham, Chief Legal Officer of MoonPay and former Commissioner of the U.S. Commodity Futures Trading Commission (CFTC), stated that cryptocurrency regulation does not require congressional legislation and can be advanced solely through rules established by regulatory agencies.

She mentioned that the regulatory jurisdiction of the CFTC is nearly all-encompassing, as the Commodity Exchange Act stipulates that almost all items, except onions and movie box office revenues, fall under the category of commodities.