- Professional-XRP stance
- Trade help
Regulator Mike Selig has been nominated to function the subsequent chairman of the U.S. Commodity Futures Buying and selling Fee.
In his social media put up, Selig said that he would assist to make the US “the crypto capital of the world,” echoing the pro-cryptocurrency speaking factors of another US authorities officers.
“Chairman Selig goes to do an awesome job on the CFTC. I’ve full confidence in his potential and management,” he mentioned.
Professional-XRP stance
Notably, Selig is a vocal supporter of XRP. He repeatedly confirmed help for the favored altcoin whereas Ripple was in the midst of a momentous authorized combat between Ripple and the U.S. Securities and Alternate Fee (SEC)
“XRP itself is solely laptop code. A fungible commodity, like gold or whiskey – each of which may also be offered as a part of funding schemes that implicate securities legal guidelines,” Selig mentioned again in 2023.
Final 12 months, he additionally slammed the SEC for asking Ripple to pay $2 billion.
“SEC can’t argue a $2b penalty towards Ripple with a straight face any higher than it will probably the safety standing of XRP,” he mentioned.
Trade help
Selig has already obtained overwhelming help from the trade.
“Chairman Selig goes to do an awesome job on the CFTC. I’ve full confidence in his potential and management,” Selig mentioned.
“Nice to see Mike Selig nominated to chair the CFTC. The timing couldn’t be extra necessary—market construction laws must cross the end line to ship clear, workable guidelines for builders and shoppers,” enterprise capitalist Chris Dixon mentioned.