Trump To Install New Pro-Crypto CFTC Chair? Here’s What We Know So Far

Donald Trump has nominated Michael Selig, a known crypto supporter, to chair the Commodity Futures Trading Commission (CFTC). The CFTC oversees futures, options, and crypto markets, ensuring fairness and preventing fraud. Selig currently serves as Chief Counsel for the Crypto Task Force and Senior Advisor to the Chairman of the SEC. He previously worked as a partner specializing in crypto at Willkie Farr & Gallagher. His nomination comes as Congress considers expanding the CFTC's oversight of crypto markets. This is Trump's second attempt to fill the role, after a prior nominee faced conflict of interest concerns. The crypto community has largely praised Selig's nomination, seeing it as a chance for regulatory clarity. Industry leaders believe Selig could foster a pro-crypto innovation environment. His leadership is anticipated to bring clearer, actionable rules for crypto developers and consumers.