Nomination Signals White House’s Push Toward Unified Crypto Regulation
U.S. President Donald Trump is reportedly preparing to nominate Michael Selig, a known “pro-crypto” regulator, as the next Chair of the Commodity Futures Trading Commission (CFTC) — a move widely viewed as another step in aligning Washington’s financial agencies with the digital asset industry.
According to reports, the nomination follows the withdrawal of former candidate Brian Quintenz in September, after his confirmation process met resistance from several lawmakers and industry figures. The White House has yet to issue an official statement, but sources close to the administration confirmed Selig’s name is now under serious consideration.
A Crypto-Friendly Voice Inside Washington
Selig currently serves as chief counsel of the SEC’s Crypto Task Force and senior adviser to SEC Chair Paul Atkins, where he has been credited with encouraging more constructive dialogue between regulators and blockchain companies.
Analysts describe him as a “pro-innovation, pro-clarity” policymaker, who advocates a risk-based framework instead of punitive oversight.
“Michael Selig’s leadership could mark a turning point for how Washington manages digital assets,” said a senior market strategist at a digital finance consultancy. “His approach aligns more closely with global markets that have embraced crypto as part of their regulatory architecture.”
CFTC’s Expanding Role in Crypto Oversight
The CFTC has long been responsible for derivatives markets, but under Trump’s administration, the agency is expected to take a leading role in supervising spot cryptocurrency markets. A Working Group on Digital Assets established by the White House in July 2024 recommended that “most cryptocurrencies be treated as commodities,” giving the CFTC broader jurisdiction.
Under the proposal, the SEC would retain authority over tokenized securities, bonds, and equity-linked digital instruments, while the CFTC would handle Bitcoin, Ethereum, and similar commodity-based assets.
Toward Unified U.S. Crypto Policy
Both agencies have recently issued a joint statement on “harmonizing regulatory standards” to eliminate overlapping rules and streamline compliance. Legal experts argue this could bring “long-overdue clarity” to crypto firms operating in the United States.
Industry observers say Selig’s potential nomination could accelerate efforts to unify digital asset regulation, reducing friction between the SEC and CFTC.
“If confirmed, Selig could become the most crypto-aware CFTC chair in history,” one policy expert noted.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.