Trump Considers Professional-Crypto Michael Selig As New CFTC Chair

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

That’s in accordance with a Bloomberg report that cited an unnamed Trump administration official. 

Selig is at present chief counsel on the Securities and Change Fee’s (SEC) crypto job power 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 steer @CFTC from day one with a robust understanding of crypto’s potential to place the U.S. as a monetary chief for generations,” The Digital Chamber mentioned in a put up on X.

We confidently assist the nomination of Michael Selig as CFTC Chair. This can be a vital period for crypto coverage and @MikeSeligEsq is ready to steer @CFTC from day one with a robust 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 is just not the primary pro-crypto individual that Trump has nominated for key roles underneath his administration. Firstly of his second time period, he appointed David Sacks, who’s a former PayPal govt and distinguished crypto-industry investor, because the White Home’s AI and Crypto Czar.

Just a few months later, Trump nominated Atkins, who is thought 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 steer 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 Understand Trump’s Crypto Capital Objective

Whereas campaigning to be president, Trump promised to make the US the crypto capital of the world and mentioned 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 govt order to determine a US Strategic Bitcoin Reserve and a US Digital Asset Stockpile. 

In September, the SEC and CFTC began collaborating on crypto coverage, with the aim to create a regulatory framework that each protects buyers 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 information requirements, and probably establishing coordinated innovation exemptions underneath 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 how one can regulate crypto. 

The group labeled most cryptocurrencies as commodities and beneficial 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. 

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

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