U.S. Commodity and Futures Trading Commission Acting Chair Caroline Pham has appointed Harry Jung as Acting Chief of Staff to lead the agency’s engagement on crypto, DeFi and digital assets.
Jung joined the CFTC in 2023 as Counselor and Senior Policy Advisor to then-Commissioner Pham. He previously held roles at Citigroup, including in the CEO's Office and as Capital Markets Regulatory Lead, where he led digital asset engagement with U.S. regulators. He also held stints at Morgan Stanley and the Financial Industry Regulatory Authority.
Beyond Jung’s appointment, Republican Pham made sweeping changes to the agency’s leadership team under her Democrat predecessor Rostin Benham on Wednesday after being tapped by President Donald Trump for interim chief earlier this week. The CFTC's five members subsequently voted to confirm her as Acting Chair.
Pham’s additional appointments on Wednesday include her former Chief of Staff Meghan Tente as Acting General Counsel, Taylor Foy as Acting Director of the Office of Public Affairs and Nicholas Elliot Acting Director of the Office of Legislative and Intergovernmental Affairs, who also previously worked in then-Commissioner Pham’s office.
“I’m pleased to announce CFTC leadership changes with the beginning of the new Administration, and I want to recognize and thank former Chairman Behnam and his staff,” Pham said in a statement on Wednesday. “I am grateful for their combined many decades of faithful service to the CFTC, and I appreciate our talented CFTC staff who will be assuming these roles on an interim basis.”
Pham has led multiple digital asset initiatives at the CFTC, including the creation of a Digital Asset Markets subcommittee to make recommendations around governance and risk. Pham also called for a regulatory sandbox in 2023 to create a framework for new technologies and later start a pilot program for digital assets.
In a statement on Monday, Pham said she looked forward to leading the CFTC as Acting Chair. “I want to thank President Trump for his confidence in me, and I’m grateful to my colleagues and the CFTC staff for their support," Pham said. "I’m looking forward to engaging with all stakeholders in this new capacity as we focus on the CFTC’s mission to promote well-functioning markets that support economic growth and the competitiveness of the United States.”
However, the Trump administration has yet to name a permanent replacement for Behnam, who stepped down on Inauguration Day, with his last day at the CFTC set for Feb. 7. Former CFTC Commissioner Brian Quintenz is reportedly among the top contenders for the role.
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