With Mike Selig confirmed to take over at the US Commodity Futures Trading Commission at any time, the commission’s acting chairwoman Caroline Pham is one step closer to her long-held plan to leave for cryptocurrency company MoonPay.
As CoinDesk reported last month, Pham is said to plan to serve as chief legal officer and chief administrative officer of the company, a cryptocurrency-focused fintech firm that just received a New York trust license last month. The company further confirmed that path Wednesday, including a statement from Fan acknowledging that she would transition once she is replaced by Selig, President Donald Trump’s nominee.
“I am delighted to be joining MoonPay at a critical time,” Fan said in an unusual career note before regulators departed. Fan also posted on the social media site X on Wednesday that she was looking forward to a “smooth transition” after Selig is sworn in.
“The future is bright,” she said.
The former Citigroup managing director has led an aggressive agenda to push crypto-friendly policies, culminating in several new initiatives enacted over the past few weeks as Selig’s confirmation process progresses in the Senate. He is expected to be confirmed as part of a slew of nominees in a vote currently scheduled for Wednesday night.
Selig is an official with the U.S. Securities and Exchange Commission who helps the agency with its cryptocurrency policy work.
“Caroline is one of the most influential leaders in U.S. financial regulation, helping to define the future of digital assets,” MoonPay co-founder and CEO Ivan Soto-Wright said in a statement, calling her the “perfect leader to guide MoonPay through its next chapter of growth and compliance excellence.”
The company also holds a New York BitLicense and handles cryptocurrency trading, payments and stablecoin infrastructure, and Pham will oversee its policy and regulatory strategy in Washington. It is not directly regulated by the CFTC.
Read more: Most influential: Caroline Pham
