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Following the formation of the “Crypto Task Force” at the SEC, significant changes were also made at the Commodity Futures Trading Commission (CFTC). Carolyn Pham, who was appointed by Trump as interim president, made temporary appointments to head the market control, sanctions and crypto departments.
One of these appointments came for the crypto department, which looks after activities including decentralized finance. Harry Jung, previously vice chairman of Citibank’s board of directors and a manager at Morgan Stanley, was named head of the department.
Jung, who previously served as Pham’s policy advisor, is a name known for his crypto-friendly initiatives and statements.
As it is known, the issue of which organization will regulate the crypto world in the US has increased significantly since the election of Donald Trump as President. The SEC and CFTC have been at war over this issue for years.
Trump appointed Pham as interim chairman of the CFTC on January 20.
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