Trump Names SEC Crypto Task Force Head Selig as Next Nominee to Run U.S. CFTC

President Donald Trump has named his new decide to guide the U.S. Commodity Futures Buying and selling Fee, formally endorsing Securities and Alternate Fee legal professional Mike Selig after jettisoning his one-time decide for former CFTC Commissioner Brian Quintenz.

The near-term management of the Commodity Futures Buying and selling Fee might be an necessary matter for the crypto business, because the company is taken into account a number one regulator of digital asset transactions by present legislative efforts in Congress. If Selig is confirmed by the Senate – a hurdle that Quintenz was unable to beat – he’ll doubtless form the implementation of the brand new US crypto coverage.

White Home crypto czar David Sacks confirmed that Selig, lengthy rumored to be Trump’s first selection, would get the nod early Saturday.

“Mike has not solely been instrumental in advancing the President’s crypto agenda as Chief Counsel of the SEC Crypto Job Drive, he additionally brings deep expertise in conventional commodity markets from his time on the CFTC underneath former Chairman Chris Giancarlo,” Sacks mentioned in a message on X.

Selig has served as a senior official within the SEC’s crypto efforts, so he can be properly acquainted with the business’s needs in the case of a complete US regulatory regime. CoinDesk reported in early October that Selig had emerged because the frontrunner for the position.

Selig mentioned he was “honored” to be nominated a message on X.

“I pledge to work tirelessly to facilitate well-functioning commodity markets, promote freedom, competitors and innovation, and assist the President make the US the crypto capital of the world,” he mentioned.

“Mike’s deep experience in monetary markets and digital belongings on the SEC makes him exceptionally properly positioned to supply readability, steadiness and forward-looking steering to the committee’s work,” mentioned Blockchain Affiliation CEO Summer season Mersinger, herself not too long ago a commissioner on the CFTC.

The CFTC has lengthy been concerned within the U.S. crypto business, and for years throughout the tenure of SEC Chairman Gary Gensler, the CFTC was thought of the friendlier of the 2 market regulators. In 2015, the CFTC issued bitcoin BTC$111,447.56 a wink as a commodity, and in 2017 the creation of crypto futures was allowed. Lately, a variety of outstanding ex-CFTC officers have joined the crypto sector as board members, advisors and executives, together with Quintenz and former Chairman J. Christopher Giancarlo.

If Congress provides the CFTC hands-on authority over spot buying and selling in crypto commodities like Bitcoin and Ethereum’s ether ETH$3,948.95that can symbolize the overwhelming majority of digital asset transactions. To this point, the U.S. Home of Representatives has handed laws that may accomplish this, the Digital Asset Market Readability Act, however the Senate continues to be working by itself model, which is not anticipated to come back earlier than the top of the 12 months.

In the meantime, the SEC’s crypto efforts, during which Selig has performed a task, have accelerated underneath Chairman Paul Atkins, who acknowledged that business regulation is the company’s high precedence. Below performing chair Caroline Pham, the CFTC has tried to maintain tempo with its “crypto dash.”

Pham has tried to go away her committee put up, a departure that was postponed when the Trump White Home paused Quintenz’s affirmation, which Gemini CEO Tyler Winklevoss brazenly opposed. Though the remainder of the business despatched a letter to Trump strongly advocating for former az16 Crypto director Quintenz to be reinstated rapidly, the lobbying effort fell quick.

Now the business is shifting to the brand new nominee, Selig.

“He understands the know-how and the necessity to depart room for innovation, but in addition believes it is very important get to the precise authorized reply,” Amanda Tuminelli, govt director of the DeFi Training Fund, mentioned in a press release.

“Selig’s deep regulatory expertise and knowledgeable strategy to monetary innovation make him the precise selection to guide the CFTC at this important time,” Ji Kim, the CEO of the Crypto Council for Innovation, mentioned in a press release.

UPDATE (October 25, 2025, 21:12 UTC): Added Selig tweet.