The CFTC in the U.S. is restructuring its enforcement division to refocus on fraud and halt regulatory enforcement

ChainCatcher News, the new acting chair of the U.S. CFTC, Caroline Pham, stated on Tuesday that the regulatory agency has restructured its enforcement division to "refocus" on fraud and "stop regulating through enforcement."

Under the leadership of former chair Rostin Behnam, the CFTC's enforcement division had multiple working groups, one focused on insider trading, another on cybersecurity and emerging technologies, and another aimed at combating environmental fraud. The new restructuring reduces the number of working groups to just two.

Pham stated, "This streamlined structure will stop enforcement regulation and be more efficient; these urgently needed changes will maximize the CFTC's resources to take more action to pursue fraudsters and other wrongdoers, rather than punishing good citizens."

According to the CFTC's announcement, the new structure will "more effectively utilize the CFTC's resources to prevent fraud, manipulation, and abuse and ensure market integrity," as well as "enhance governance and oversight of enforcement matters to prevent overreach and enhance consistency, fairness, and due process."