according to CoinDesk, Caroline Pham, Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated at the Coinbase annual summit that although the Trump administration is open to cryptocurrencies, regulatory agencies will not relax compliance requirements for the industry. She emphasized that "supporting innovation does not mean turning a blind eye to illegal activities", and the CFTC will focus on combating market fraud rather than convicting specific asset classes or technologies. Pham criticized the regulatory approach of the Biden administration for "over-expanding legal interpretations", pointing out that this trend not only affects the crypto market, but also spills over to traditional derivatives and forex markets. She believes that when crypto technology is widely adopted, a blanket ban will become impractical.