President Donald Trump has officially nominated Mike Selig, a key attorney from the Securities and Exchange Commission’s crypto task force, to serve as the next chairman of the U.S. Commodity Futures Trading Commission (CFTC). This marks a shift from Trump’s previous pick, former CFTC Commissioner Brian Quintenz, whose confirmation efforts stalled in the Senate.
The leadership of the CFTC holds significant importance for the cryptocurrency sector, especially amid ongoing congressional debates that position the agency as a primary regulator for digital asset transactions. If confirmed by the Senate, Selig would play a crucial role in shaping the enforcement and implementation of evolving crypto regulations across the United States.
David Sacks, the White House’s crypto coordinator, announced Selig’s nomination on social media, emphasizing his combined expertise in both traditional commodities markets and digital currencies. Sacks highlighted Selig’s prior service at the CFTC during former Chairman Chris Giancarlo’s tenure, alongside his instrumental work driving the administration’s crypto agenda as Chief Counsel for the SEC’s crypto task force.
Currently a senior figure within the SEC’s cryptocurrency efforts, Selig is well-versed in the industry’s regulatory challenges and opportunities. Earlier reports identified him as the leading candidate to assume control of the CFTC, a position that could influence key legislative outcomes for the crypto market.
Responding to the nomination, Selig expressed his commitment to promoting “well-functioning commodity markets” while fostering innovation, competition, and positioning the U.S. as a global hub for cryptocurrency development.
Industry supporters have welcomed the move. Summer Mersinger, CEO of the Blockchain Association and a recent CFTC commissioner, praised Selig’s comprehensive knowledge of financial markets and digital assets, noting his potential to provide clear and balanced regulatory guidance.
The CFTC has maintained a comparatively constructive stance toward the crypto industry over the years. Since officially recognizing bitcoin as a commodity in 2015 and approving crypto futures in 2017, the commission has been considered more accessible than the SEC under former Chair Gary Gensler. Many former CFTC leaders, including Brian Quintenz and ex-Chairman Giancarlo, have transitioned into advisory roles within the crypto sector.
Congressional efforts to grant the CFTC authority over spot trading in major cryptocurrencies like bitcoin and Ethereum could significantly expand the agency’s regulatory scope. The House has passed the Digital Asset Market Clarity Act to this effect, while the Senate continues to deliberate on its own version, expected for consideration before year-end.
Meanwhile, the SEC’s crypto division — where Selig has been active — has been accelerating regulatory initiatives under Chairman Paul Atkins. The CFTC under Acting Chair Caroline Pham has likewise intensified its focus, though Pham’s pending departure and delayed replacement have added uncertainty to the commission’s future leadership.
Quintenz’s stalled confirmation, amid industry opposition from figures like Gemini CEO Tyler Winklevoss, left a leadership gap that Selig now aims to fill. Industry voices such as Amanda Tuminelli from the DeFi Education Fund and Ji Kim of the Crypto Council for Innovation have voiced confidence in Selig’s ability to balance innovation with sound legal foundations.
If approved, Mike Selig’s appointment could signal a new chapter for the CFTC at a pivotal moment for U.S. crypto regulation.
