Following President Donald Trump's return to the White House, Caroline Pham, the newly appointed Chairman of the U.S. Commodity Futures Trading Commission, has overseen a major reshuffling of the agency's top officials. This change in leadership, with Pham appointing interim replacements for each departing official, is expected to have significant implications for the regulation of cryptocurrencies in the US.
Notably, Harry Jung, a senior policy advisor to Pham since 2023, has been promoted to lead the agency's interactions with the crypto industry as the new acting chief of staff. Pham has announced the departure of several high-ranking officials, including the general counsel, heads of enforcement, public affairs, and other key divisions. The newly appointed acting general counsel, chief of staff, and public affairs director were previously part of Pham's commissioner office.
Nicholas Elliot, a former policy advisor to Pham, will now oversee the legislative office, while Briang Young, a veteran of the Department of Justice, will serve as the stand-in enforcement director.