U.S. President Donald Trump has officially nominated Mike Selig, a senior lawyer at the Securities and Exchange Commission (SEC), to head the Commodity Futures Trading Commission (CFTC), replacing his earlier pick, Brian Quintenz. The decision comes at a pivotal time as Congress considers granting the CFTC greater authority over cryptocurrency markets through the proposed Digital Asset Market Clarity Act.
Selig, currently Chief Counsel of the SEC’s Crypto Task Force, has been instrumental in shaping the administration’s crypto strategy. White House Crypto Czar David Sacks confirmed the nomination, praising Selig’s dual expertise in digital assets and traditional commodities, noting his previous work at the CFTC under former Chairman Chris Giancarlo.
In a statement on X, Selig expressed gratitude for the nomination, pledging to “promote freedom, competition, and innovation” and help position the U.S. as the global crypto leader. His nomination was met with strong support from industry leaders. Blockchain Association CEO Summer Mersinger called him “exceptionally well-positioned” to bring clarity and balance to crypto regulation, while the DeFi Education Fund’s Amanda Tuminelli highlighted his understanding of both technology and law.
The CFTC has historically been viewed as more favorable to crypto than the SEC, having first classified Bitcoin as a commodity in 2015 and later approving crypto futures in 2017. With potential new authority over spot crypto markets like Bitcoin and Ethereum, the CFTC under Selig could play a defining role in shaping the next phase of U.S. digital asset regulation.
Selig’s confirmation now rests with the Senate, where his appointment could solidify the administration’s commitment to fostering innovation while establishing a clearer regulatory framework for the rapidly evolving cryptocurrency industry.
