America 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 Trade Fee (SEC) on cryptocurrency issues.
The affirmation was carried out by way of a joint vote that coated 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 in the course of the presidency of J. Christopher Giancarlo between 2014 and 2015. Subsequently, he labored at personal companies comparable to 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 Activity Drive. With a view to promote the business of those belongings in the USA, with the Trump administration, the group superior totally different laws 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 comparable to cryptocurrencies. As well as, this 12 months the group shocked with initiatives comparable to 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 understanding their proposals to advertise extra clear futures markets, for the advantage of farmers and ranchers.
Sector assist and opening alerts on the CFTC
This novelty was accompanied by favorable reactions from the business. In a press release to US media, Cody Carbone, govt director of The Digital Chamber – a commerce affiliation for the digital asset sector – welcomed Selig’s affirmation and highlighted his stable technical expertise.
Based on him, “his understanding of the worth of the business to customers and buyers might be essential because the fee and Congress draft the principles and legal guidelines that can regulate the business in the USA.”
In 2025, The CFTC has given concrete alerts of openness to innovation. Just some days in the past, the group introduced the launch of a pilot program that can enable using bitcoin, ether (ETH) and the stablecoin USDC coin (USDC) as collateral in regulated derivatives markets in the USA.
As reported by CriptoNoticias, the initiative seeks to supply secure options to platforms offshoreincorporate digital belongings into the native monetary system and strengthen buyer monitoring and safety mechanisms.
