Trump Names Pro Crypto Lawyer Michael Selig As CFTC Chair
- Selig is nominated to guide the CFTC through regulatory reforms and agency coordination.
- His nomination marks a stage in building Clear and balanced crypto oversight in the US.
- The decision could reshape how regulators align to supervise the digital asset economy.
President Donald Trump has nominated Michael Selig to chair the Commodity Futures Trading Commission (CFTC), according to an administration official familiar with the decision. Selig, currently the chief counsel for the Securities and Exchange Commission’s (SEC) crypto task force, has been advising SEC Chairman Paul Atkins on aligning regulatory approaches between the SEC and CFTC. According to reports, his appointment comes as the administration finalizes a national crypto market structure framework that could expand the CFTC’s role in digital asset oversight.
Selig’s nomination follows Trump’s earlier, unsuccessful attempt to appoint Brian Quintenz. The decision signals a renewed push to strengthen crypto regulation under a unified federal framework. The CFTC, historically responsible for commodity and derivatives markets, now stands at the center of discussions on whether it should take a larger role in regulating cryptocurrencies. Earlier in his career, Selig was a partner at Willkie Farr & Gallagher’s asset management practice.
Crypto Oversight and Inter-Agency Alignment
Selig has earned recognition as a “pro-crypto” figure within the digital asset community. His track record reflects efforts to harmonize financial rules between agencies that have long divided regulatory authority. In his role at the SEC, he helped craft guidelines to align the SEC and CFTC on crypto supervision.
The White House’s Working Group on Digital Assets recently proposed that the CFTC oversee spot crypto markets while classifying most cryptocurrencies as commodities. The SEC would keep the power over tokenized securities and related financial products from the birth of the new regulatory framework. This initiative aims to eliminate overlapping jurisdictions and give the crypto sector clear regulations.
The decision of the Washington authorities to extend the CFTC’s supervision comes at a time when the market is asking for more separation between securities and commodities. If the proposal is accepted, the CFTC will be able to deploy its new powers to monitor exchanges, enforce compliance, and protect investors in the digital markets.
The choice of Selig could very well dictate the future coordination of these agencies’ efficiency. In September, the SEC and CFTC publicly declared their intent to cooperate in crypto oversight by issuing a joint statement discussing their shared goals. Such a partnership might bring into existence clearer routes through the ever-changing rules for crypto companies, exchanges, and investors.
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Senate Review and Industry Reactions
As with all presidential nominations, Selig’s appointment will require Senate approval, a process that could extend over several months. His predecessor nominee, Brian Quintenz, then global policy head at a16z Crypto, faced Senate resistance despite strong backing from venture firms and industry leaders. The split revealed deep divisions within the crypto sector: venture-backed exchanges advocating for market concessions versus strategists urging uniform federal rulemaking.
Following that fallout, the administration turned to Selig, who is regarded as institutionally disciplined and strategically aligned. His nomination appears aimed at restoring unity and advancing policy continuity across federal regulators.
Industry leaders have responded positively to the choice. Amanda Tuminelli, executive director of the DeFi Education Fund, described Selig as “a well-respected lawyer and industry expert who understands the tech and the need to allow room for innovation.”
Jake Chervinsky, chief legal officer at Variant Fund, echoed that sentiment, noting that “there’s nothing more important for crypto policy than the White House nominating a new CFTC chair, and nobody better than Mike Selig for the job.”
Chervinsky added that Selig is “a brilliant lawyer and proven leader perfect for this role.” As the confirmation process begins, Washington faces a defining question: Can Michael Selig’s leadership unite U.S. regulators and finally establish clear, lasting rules for the crypto market?
