President Donald Trump has appointed Mike Selig as the new Chair of the Commodity Futures Trading Commission (CFTC), marking another major step in his administration’s push to make the United States the global hub for digital assets.
Selig, who previously served as Chief Counsel of the SEC’s Crypto Task Force, is widely regarded as one of Washington’s leading legal voices on digital-asset regulation. His experience spans both crypto policy and traditional derivatives markets, having earlier worked at the CFTC under former Chairman Chris Giancarlo, known in the industry as “Crypto Dad” for his early support of blockchain innovation.
“President Trump has made an excellent choice in Mike Selig to lead the CFTC,” White House AI and Crypto Czar David Sacks wrote on X, adding that Selig is “deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach.”
The appointment comes amid a broader reshaping of the U.S. financial regulatory landscape, as the Trump administration seeks to consolidate oversight of digital assets and provide clearer frameworks for trading, custody, and token classification. The CFTC, which traditionally regulates commodities and derivatives, has long vied with the SEC over jurisdiction in the crypto space.
In fact, in September 2025, the SEC and CFTC jointly issued a staff-level statement affirming that current law does not prohibit registered venues from facilitating trading of certain “spot crypto commodity products”. The agencies are committed to reviewing filings and encouraging engagement from market participants.
Selig’s appointment follows a historic SEC-CFTC Joint Roundtable on Regulatory Harmonization held on September 29, 2025, where SEC Chairman Paul S. Atkins and Acting CFTC Chairman Caroline Pham vowed to end decades of regulatory fragmentation between the two agencies. In his opening remarks, Atkins declared the day a “turning point in the history of American financial markets,” pledging to replace duplicative oversight with coordinated regulation.
With the CFTC and SEC now pledging closer alignment, Selig’s dual-agency experience positions him to play a pivotal role in executing that vision. He is expected to work closely with Patrick Witt, head of the President’s Working Group on Digital Assets, to streamline overlapping regulatory mandates. If confirmed by the Senate, Selig will succeed Commissioner Summer Mersinger, who has led the agency since early 2025.
Elon Musk's artificial intelligence company xAI has filed a federal lawsuit challenging Minnesota's landmark law banning AI-powered "nudification" technology, arguing…
Bitcoin climbed toward $65,000 as an unusual shift in traditional financial markets created one of the rarest conditions…
Hyperscale Data has sold 100 Bitcoin to accelerate development of its planned artificial intelligence campus in Michigan, sending shares…
A newly launched memecoin called PIPEDOG ($PIPEDOG) became the latest breakout token on Robinhood Chain, surging more than 140x within…
BNY, the world's largest custodian bank, is bringing one of its core financial businesses onto…
A bipartisan group of U.S. senators has reportedly reached a new compromise on the ethics provisions of…