With the chairmanship still an open question for the Commodity Futures Trading Commission — likely to be a leading U.S. watchdog for crypto — its interim leader, Caroline Pham, is getting started on recommendations from the .

The CFTC, which regulates U.S. derivatives trading and would assume oversight of the bulk of U.S. crypto trading under Congress' market structure legislation, was at the center of key recommendations in the Trump administration report. So Pham, who President Donald Trump named acting chairman earlier this year, directed the agency to start taking industry input on meeting what's become "a top priority" of the White House.

"I am beginning stakeholder engagement on all other report recommendations for the CFTC with the full support of the President’s Working Group on Digital Asset Markets to operationalize President Trump’s promise to win on crypto," Pham said in a statement. The agency is on fulfilling the report's recommendations, opening a two-month window for input.

The CFTC is facing potential leadership drama, with Pham having said she's and the confirmation process to make former Commissioner Brian Quintenz the chairman deliberately delayed by the White House. Quintenz drew , CEO of Gemini, who is among Trump's inner circle of favored crypto executives, but the bulk of the industry's lobbyists are of his nomination. For reasons it never detailed, the White House what would have been a final committee vote to send Quintenz's confirmation to the Senate floor, it's reportedly still backing him.

After that stitch in his confirmation, the Senate went on its August break, further forestalling the resolution of the CFTC chairmanship, with Pham poised to leave and the only other sitting commissioner — Democrat Kristin Johnson — also planning to go. Even if Quintenz is quickly confirmed after the Senate's summer recess, he may take over an otherwise empty five-member commission.

Meanwhile, Pham said the CFTC's renewed crypto effort is meant to operate alongside , the Trump-appointed chairman of the Securities and Exchange Commission. This is a followup to the "" that Pham most recently promised on Aug. 1.

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