Trump Considers Professional-Crypto Michael Selig As New CFTC Chair

US President Donald Trump is ready to appoint pro-crypto Michael Selig as the subsequent chair of the Commodity Futures Buying and selling Fee (CFTC).

That’s in response to a Bloomberg report that cited an unnamed Trump administration official. 

Selig is at the moment chief counsel on the Securities and Alternate Fee’s (SEC) crypto process drive and likewise a senior adviser to SEC Chair Paul Atkins. Some analysts and influencers within the crypto group have characterised him as crypto pleasant.

”@MikeSeligEsq is ready to guide @CFTC from day one with a powerful understanding of crypto’s potential to place the U.S. as a monetary chief for generations,” The Digital Chamber stated in a publish on X.

We confidently help the nomination of Michael Selig as CFTC Chair. It is a crucial period for crypto coverage and @MikeSeligEsq is ready to guide @CFTC from day one with a powerful understanding of crypto’s potential to place the U.S. as a monetary chief for generations. pic.twitter.com/1AWbBRi6oc

— The Digital Chamber (@DigitalChamber) October 24, 2025

Selig shouldn’t be the primary pro-crypto individual that Trump has nominated for key roles beneath his administration. In the beginning of his second time period, he appointed David Sacks, who’s a former PayPal government and outstanding crypto-industry investor, because the White Home’s AI and Crypto Czar.

A couple of months later, Trump nominated Atkins, who is understood for extra industry-friendly positions on crypto, because the Chair of the SEC. His nomination acquired full Senate affirmation on April 9, and was sworn in because the company’s Chair on April 21. 

The report that Trump is contemplating Selig to guide the CFTC comes after the nomination of Brian Quintenz stalled in September after strain from Gemini co-founders Cameron and Tyler Winklevoss led to Trump withdrawing his nomination. 

Selig’s work expertise (Supply: Linkedin)

CFTC And SEC Collaborate To Notice Trump’s Crypto Capital Aim

Whereas campaigning to be president, Trump promised to make the US the crypto capital of the world and stated he could be a “crypto President.”

He wasted no time delivering on the vow. Shortly after his inauguration in January, he established a working group on digital asset markets and signed an government order to ascertain a US Strategic Bitcoin Reserve and a US Digital Asset Stockpile. 

In September, the SEC and CFTC began collaborating on crypto coverage, with the purpose to create a regulatory framework that each protects traders and permits for innovation.

The businesses issued a joint assertion asserting a proper initiative to harmonize their regulatory frameworks for digital belongings. On this assertion, the businesses additionally outlined potential areas of coordination akin to aligning product definitions, reporting and knowledge requirements, and presumably establishing coordinated innovation exemptions beneath every company’s authority. 

It’s a brand new day. Onwards 🇺🇸🫡 #ProjectCrypto @SECPaulSAtkins @SECGov @CFTC @A1Policy pic.twitter.com/kChRm036Mg

— Caroline D. Pham (@CarolineDPham) July 31, 2025

Each the CFTC and SEC have additionally acted on suggestions from the White Home’s digital belongings working group on the right way to regulate crypto. 

The group labeled most cryptocurrencies as commodities and really helpful that the CFTC ought to have oversight over the spot crypto markets. Trump himself has mulled handing oversight of the crypto market to the CFTC. 

Appearing on the working group’s suggestions, SEC Chair Atkins introduced “Challenge Crypto,” which seeks to ease licensing necessities for crypto companies, amongst different issues.

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