Trump Nominates Pro-Crypto Michael Selig as CFTC Chairman

President Donald Trump has nominated Michael Selig, the current chief counsel for the Securities and Exchange Commission's (SEC) Crypto Task Force, to serve as the next Chair of the U.S. Commodity Futures Trading Commission (CFTC). An administration official confirmed the decision to Bloomberg, noting that Selig's nomination reflects the administration's intent to strengthen coordination between U.S. financial regulators as the digital asset market continues to mature.

Selig has played a key role at the SEC, where he has worked to harmonize policy frameworks between the SEC and CFTC, two agencies whose overlapping jurisdictions have long complicated cryptocurrency regulation. His nomination follows the withdrawal of Brian Quintenz, Trump's previous choice for CFTC chair, earlier this month. If confirmed by the U.S. Senate, Selig would oversee derivatives, commodities, and digital asset markets at a time when both institutional and retail participation in crypto futures trading is accelerating.

The appointment underscores the Trump administration's broader effort to reshape financial regulation toward a more pro-innovation and crypto-inclusive stance, positioning the U.S. as a global leader in digital asset oversight and market development. Selig is known for his outspoken support of the cryptocurrency industry; he previously criticized former SEC Chairman Gary Gensler's policies as "regulation by sanction" and, in a social media post last October, wrote, "The election is a week away, Bitcoin has surpassed $71,000, and SEC Chairman Gensler will soon be vacating his office. It's time for a hard fork in the SEC's approach to crypto."

Previously, Selig worked as a partner at the law firm Willkie Farr & Gallagher and served as a legal assistant to then-CFTC Commissioner Chris Giancarlo in 2014 and 2015. Giancarlo served as CFTC Chair during Trump's first term. Selig also currently serves as a senior advisor to SEC Chairman Paul Atkins, who announced a deregulatory program called "Project Crypto" in July aimed at migrating capital markets onto blockchain.