The acting chairman of the US commercial futures (CFTC) commercial, Caroline Pham, said that the agency would tightly control the cryptocurrency market – however, it is already impossible to ban cryptocurrencies, even by the will of the president.

CFTC no longer uses a forcing approach to cryptocurrencies, concentrating its resources to suppress fraud with digital assets, said the IO of the head of the commission. She promised that CFTC would not give the crypto services and would not allow market participants to violate the law only because the agency supports the development of innovation.

According to FAM, the administration of Joe Biden went beyond the law and pursued the cryptocurrencies, thereby harming the traditional markets of foreign currencies and derivatives. Under Bayden, crypto industrial industry was perceived as something bad, and her persecution destroyed the structure of world markets, the official believes.

FAM compared cryptocurrencies to Uber, which developed a mobile taxi call. According to the official, now there is a “priorization of cryptocurrencies” – digital assets are already so common in the daily life of people that it is already useless to prohibit this type of asset or criminalize them.

Like Uber, which is firmly fixed in the taxi market and which is impossible to close, the influence of cryptocurrencies is growing, so it would be unfair to ignore them or perceive them as a “random technology”. Initially, Uber met resistance, and cryptocurrency can also withstand any onslaught if it becomes an integral part of people’s everyday life, the head of CFTC believes.

“When something becomes so big and positively perceived by society, no one can cancel it. People, voters will not allow this to take it away, ”said Caroline Fam.

Earlier, FAM spoke out against the case against the cryptocurrency exchange of Kucoin, which, in her opinion, revealed the contradictions in the classification of crypto assets. CFTC claimed that Kucoin violated the law on commodity exchanges (CEA), and the US Securities and Exchange Commission (SEC) accused the exchange of violating securities laws.