Quadrillions: The Crypto Capital of the World | Acting Chairman Pham
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And I said, look, America is back. We want you to come and invest, hire, and build in America. We have regulatory clarity. Yes. You can conduct these activities here in a regulated manner. And that's actually had such a huge impact.
Quadrillions is a miniseries produced by Blockworks and is sponsored by Canton Network. Nothing on this show is a recommendation to buy or sell securities or tokens. It's for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of Blockworks. Our hosts, guests, and the Blockworks team may hold positions in companies, funds, or projects discussed, including those related to Canton Network. Alright, everyone. Welcome back to Quadrillions. Very excited about this one. We have acting chairman of the CFTC
Thank you. Thanks so much for having me here.
Yeah. Yeah. Very excited about this one. Okay. Let's let's jump right into it. So I was reading one of your quotes from I think it was back in January. You said you kind of publicly declared it is time for the CFTC to get back to basics. I would love to just hear what you had in mind when you said that.
Yes. 100%. I'm so glad we're starting there because that really has been my mantra ever since I came back to the CFTC for the fourth time as a commissioner. So a lot of people have heard kind of my origin story, but I started off at the CFTC as an intern actually in the enforcement division when I was in law school. So I have the benefit of honestly, the past fifteen years, my whole career started and has been shaped by very much the CFTC and the markets that it oversees. So I have this institutional knowledge. I know what the CFTC was like in the quote unquote old days. We actually celebrated
If I can, Jason, I just chime in. I just cannot applaud enough Commissioner Pam for what you just said. I think that a lot of times people ask me, are you excited about all the new rules that are coming, you know, to the space? And I say, yeah, I am excited. But actually what gets me more excited is the posture of the administration and the regulators, because it is even things that were possible within the regulatory framework. And previously, people were scared to use the technology because it was the posture that was just talked about that was intimidating. It's like, yeah, we think it's we
Yeah.
Yeah. Thank you so much, Yuval. Because I think, look, it's not just Operation Chokepoint two point zero, right? It's not just that. It is the fact that there was what I've called before almost this allergic reaction to new technology. So it's sort of like, Oh, no, no, no, this is new. It must be bad. We have to be very skeptical. We have to kind of discourage people using this new technology. And I also think that's something, unfortunately, that got lost in this whole narrative in Washington was this idea that bad actors who commit fraud in the crypto space means that the blockchain technolo
Yeah. Yeah. I mean, the pace of innovation inside of the organization right now has just been, yeah, pretty remarkable. Maybe we can actually talk about I'd love to get your take on there's a lot of conversations right now about how to divide responsibilities between the c the CFTC and the SEC. Especially, you know, we've got this comprehensive market structure framework that's coming. And there's been a lot of talk about what is the you know, I think the industry maybe thought the SEC was the most important, then it was like, oh, maybe the CFTC is more important for our industry, or maybe the
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