Donald Trump’s Choice for CFTC Chair Revealed – Bullish Outlook for Cryptocurrencies, Here Are His Views

US President Donald Trump has appointed Michael Selig, who served as basic counsel to the Securities and Change Fee (SEC) cryptocurrency activity drive, as chairman of the Commodity Futures Buying and selling Fee (CFTC).

In response to Bloomberg, this appointment comes at a time when the regulatory framework for cryptocurrency markets is being reformed in Washington.

Selig served as basic counsel for the SEC’s 14-member Crypto Process Pressure. Beforehand, Selig labored as a accomplice on the famend legislation agency Willkie Farr & Gallagher and served as authorized assistant to then-CFTC Commissioner Chris Giancarlo in 2014 and 2015. Giancarlo was CFTC chairman throughout Trump’s first time period.

Selig, identified for his outspoken assist for the cryptocurrency business, has beforehand criticized former SEC Chairman Gary Gensler’s insurance policies as “regulation by sanctions.” In a social media publish final October, he wrote: “The election is per week away, Bitcoin has surpassed $71,000 and SEC Chairman Gensler will quickly be leaving workplace. It is time for a tough break up within the SEC’s method to crypto.”

Selig additionally at present serves as a senior advisor to SEC Chairman Paul Atkins. In his July speech, “Venture Crypto,” Atkins introduced a deregulation program geared toward migrating capital markets to blockchain.

*This isn’t funding recommendation.