Caroline Pham rattled off data about the CFTC‘s enforcement actions since she became acting chair in a roundtable event to discuss the agency and the SEC working together.

The SEC-CFTC roundtable affirmed cross-agency collaboration on crypto regulation: acting CFTC Chair Caroline Pham reported 18 non-enforcement actions and 13 enforcement actions since Jan. 20, 2025, underscoring that the CFTC remains active while Congress considers market-structure legislation.

  • CFTC reported activity: 18 non-enforcement actions and 13 enforcement actions since Jan. 20, 2025.

  • SEC emphasized collaboration, not consolidation; no merger planned without congressional action.

  • Roundtable included industry panels with executives from Kraken and Crypto.com; market-structure bills remain pending in Congress.

SEC-CFTC roundtable: Caroline Pham reports CFTC actions and enforcement counts; read concise analysis of regulatory impact and next steps for crypto stakeholders.

What is the SEC-CFTC roundtable and why does it matter for crypto regulation?

The SEC-CFTC roundtable is a joint forum where the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission discuss regulatory harmonization for digital assets. The session matters because it clarifies agency roles, signals enforcement priorities, and influences pending market-structure legislation affecting crypto firms.

How did Caroline Pham describe CFTC activity since becoming acting chair?

Acting CFTC Chair Caroline Pham reported the agency executed 18 administrative or policy actions (excluding enforcement) from Jan. 20 to Sept. 3, 2025, and recorded 13 enforcement actions in the same window, plus 14 actions after Sept. 4. She used these figures to counter perceived “FUD” about the agency’s activity levels.

The roundtable featured remarks from SEC Chair Paul Atkins, who emphasized collaboration, not consolidation, noting any structural change would require Congressional and presidential action. Panels included industry voices from Kraken and Crypto.com, with moderation by former CFTC officials.

How could the roundtable affect pending market-structure legislation?

The roundtable informs lawmakers and the market while Congress weighs market-structure bills that would delineate SEC and CFTC responsibilities. A potential government shutdown could delay Senate consideration and slow confirmation processes for new CFTC leadership, affecting the timeline for regulatory clarity.

Why does leadership at the CFTC matter now?

Leadership matters because acting Chair Pham is the lone current commissioner at the CFTC, and a confirmed chair would set long-term enforcement and policy priorities. The White House nomination of former commissioner Brian Quintenz has been delayed, and reports indicate other candidates are under consideration.

Frequently Asked Questions

What actions did the CFTC take under Caroline Pham’s acting tenure?

The CFTC recorded 18 non-enforcement actions and 13 enforcement actions from Jan. 20 to Sept. 3, 2025, with 14 additional actions reported after Sept. 4, 2025. These figures include administrative rulings, guidance, and lawsuits involving digital assets.

Is the SEC planning to merge with the CFTC?

No. SEC Chair Paul Atkins stated the agencies aim for collaboration rather than consolidation; any merger would require Congressional and presidential approval.

How will a government shutdown affect crypto regulation?

A shutdown would pause Congressional activity, delaying market-structure bills and confirmation hearings for CFTC nominees, and could postpone legislative clarity on agency jurisdiction over digital assets.


Key Takeaways

  • CFTC activity: The agency reported 18 non-enforcement and 13 enforcement actions in the Jan.–Sept. 2025 window.
  • Agency stance: SEC and CFTC emphasized collaboration; no merger is planned without Congress and the President.
  • Legislative risk: A potential government shutdown could delay market-structure legislation and CFTC leadership confirmations.

Conclusion

The SEC-CFTC roundtable provided a clear snapshot of current regulatory dynamics for digital assets, with acting CFTC Chair Caroline Pham presenting concrete activity counts and both agencies stressing cooperative oversight. Stakeholders should monitor congressional progress on market-structure bills and upcoming CFTC nominations for signals on future enforcement and rulemaking.



Publication date: 2025-09-29. Author: COINOTAG.

Note: Industry participants referenced during the roundtable included Kraken, Crypto.com and executives involved in market-structure discussions. Related editorial mentions: Crypto execs met US lawmakers to discuss Bitcoin reserve and market structure bills. Magazine feature: “Help! My robot vac is stealing my Bitcoin”: When smart devices attack.