Quick Takeaways
- Michael Selig, the SEC’s chief counsel, was nominated by Trump to lead the CFTC.
- His nomination replaces Brian Quintez after pressure from Gemini founders.
- The Senate Agriculture Committee will hold the hearing for confirmation.
Trump Appoints Michael Selig as CFTC Chair
U.S. President Donald Trump has nominated Michael Selig as the new Chair of the Commodity Futures Trading Commission (CFTC), Bloomberg reported Friday.
The decision follows growing influence from Gemini founders Tyler and Cameron Winklevoss, who opposed Trump’s previous nominee, Brian Quintez.
Selig’s nomination signals a stronger alignment between Washington’s top financial regulators and the expanding crypto market.
Selig’s Regulatory Background
Selig presently serves as Chief Counsel for the U. S. Securities and Exchange Commission’s Crypto Task Force and Senior Advisor to SEC Chairman Paul Atkins.
Before the SEC, he was a partner at Willkie Farr & Gallagher, focusing on digital assets and compliance.
With his treble experience across agencies, Selig is geared to kick-start greater coordination between the SEC and CFTC, potentially streamlining oversight of cryptocurrencies, tokenized collateral, and post-trading markets.
Impact on Crypto Regulation
Selig’s appointment follows as Washington pushes for clear crypto legislation through numbers like the CLARITY and GENIUS Act.
As CFTC Chair, Selig will help shape the rules governing major cryptocurrencies and digital assets.
His leadership could help install consistent frameworks for investor security and institutional involvement in boosting confidence in regulated crypto markets.
Industry Reactions
Industry leaders welcomed Selig’s nomination.
Jake Chervinsky, Chief Legal Officer at Variant Fund, called it a “pivotal moment for U.S. crypto policy.”
He praised Selig as “a brilliant lawyer and proven leader perfect for the role.”
Many in the digital plus space image this as a sign that the White House is prioritizing crypto clarity and aiming to stabilize regulatory uncertainty that has long handicapped innovation.
Next Steps: Senate Confirmation
The Senate Agriculture Committee will now review Selig’s nomination in upcoming hearings.
Lawmakers will wonder about his stance on crypto rule, enforcement, and cross-agency cooperation. If reappointed, Selig will take over as CFTC Chair and likely shape U.S. crypto policy for years.
