From Cointelegraph

June 12, 2025 11:24:00 pm:

The CFTC’s acting chair, Caroline Pham, emphasizes that despite a pro-innovation stance, regulators will not let crypto industry players break the law. Pham aims to focus on catching fraudsters rather than regulating through enforcement. Biden administration’s approach to crypto has impacted traditional markets as well.

Pham discusses the concept of “uberizing crypto” – making digital assets so widespread and integrated that banning them becomes politically unfeasible. This parallels how Uber disrupted the taxi industry. She highlights that once something becomes ingrained in society, it is challenging to eliminate.

In the same week, the CLARITY Act, a crypto market structure bill, advanced through a House Financial Services Committee vote. If passed, the bill will determine whether the SEC or CFTC will regulate crypto, potentially granting more authority to the latter. Pham plans to transition to the private sector, allowing Brian Quintez to lead pending Senate approval.

Read more at Cointelegraph

1. Bitcoin hits a new all-time high, reaching $60,000 for the first time. This milestone comes as institutional investors continue to show interest in the cryptocurrency, with Tesla recently purchasing $1.5 billion worth of Bitcoin.

2. Ethereum also experiences a surge in value, breaking the $2,000 mark. The cryptocurrency’s market cap surpasses $200 billion, solidifying its position as the second largest digital asset behind Bitcoin.

3. NFTs (non-fungible tokens) gain popularity in the art world, with a digital artwork selling for $69 million at Christie’s auction house. This sale marks a significant moment for the intersection of art and blockchain technology.: CFTC’s Pham Warns It Won’t Tolerate Crypto Lawbreakers