The US Senate confirmed this Thursday Michael Selig as the brand new president of the Commodity Futures Buying and selling Fee (CFTC). He’s the important thing advisor to the Securities and Change Fee (SEC) on cryptocurrency issues.
The affirmation was carried out by way of a joint vote that lined dozens of nominations, with a results of 53 to 43.
Selig is a lawyer specializing in derivatives, commodities and cryptocurrencieswith a profession that mixes expertise in the private and non-private sectors.
His profession within the subject started on the CFTC itself as a authorized assistant throughout the presidency of J. Christopher Giancarlo between 2014 and 2015. Subsequently, he labored at personal companies resembling Cadwalader, Wickersham & Taft, Perkins Coie and Willkie Farr & Gallagher.
In March 2025, the lawyer returned to the federal government when he joined the SEC as chief counsel of the Cryptocurrency Job Drive. So as to promote the business of those belongings in america, with the Trump administration, the group superior totally different rules in favor of the sector.
With out going any additional, the SEC this week withdrew a coverage issued two years in the past that restricted banks from working with improvements resembling cryptocurrencies. As well as, this 12 months the group stunned with initiatives resembling holding a spherical desk on monetary privateness and approving spot exchange-traded funds (ETF) for the cryptocurrencies solana (SOL), dogecoin (DOGE) and XRP.
President Donald Trump nominated Selig to steer the CFTC in October 2025. This after withdrawing the candidacy of its unique candidate, Brian Quintenz.
Then, in November, Republican Senator Cindy Hyde-Smith spoke a couple of assembly with Selig. In it, he expressed his curiosity in figuring out their proposals to advertise extra clear futures markets, for the good thing about farmers and ranchers.
Sector help and opening indicators on the CFTC
This novelty was accompanied by favorable reactions from the business. In an announcement to US media, Cody Carbone, government director of The Digital Chamber – a commerce affiliation for the digital asset sector – welcomed Selig’s affirmation and highlighted his stable technical expertise.
In accordance with him, “his understanding of the worth of the business to customers and traders will probably be essential because the fee and Congress draft the foundations and legal guidelines that can regulate the business in america.”
In 2025, The CFTC has given concrete indicators of openness to innovation. Just some days in the past, the group introduced the launch of a pilot program that can permit using bitcoin, ether (ETH) and the stablecoin USDC coin (USDC) as collateral in regulated derivatives markets in america.
As reported by CriptoNoticias, the initiative seeks to supply protected alternate options to platforms offshoreincorporate digital belongings into the native monetary system and strengthen buyer monitoring and safety mechanisms.
