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US President Donald Trump is preparing to nominate Michael Selig, a senior adviser at the U.S. Securities and Exchange Commission (SEC) and longtime digital-asset advocate, to lead the Commodity Futures Trading Commission (CFTC). The nomination follows the abrupt withdrawal of his previous pick, Brian Quintenz, whose confirmation stalled under industry scrutiny.
According to a Bloomberg report, Trump personally approved Selig's selection earlier this week. The move signals the administration’s intention to accelerate the integration of cryptocurrency into federal financial policy.
Selig is currently the chief counsel for the SEC's crypto task force, where he is developing regulatory structures for both decentralized finance (DeFi) and tokenized securities markets. He has been an essential collaborator of SEC Chair Paul Atkins on digital-asset policy and was a partner at Willkie Farr & Gallagher, where he focused on asset management before that. Many experts in the field consider Selig one of the most progressive thinkers on blockchain regulation in Washington.
His regulatory agenda is designed not to hinder innovation but rather to bring DeFi and tokenized securities into compliance with the existing regulations. Although the White House has not yet made an official announcement, his strong connection with the administration's crypto goals is obvious. His experience enables him to manage the crossover between securities and commodities law reform effectively.
The CFTC, which oversees futures, swaps, and prediction markets, is emerging as a key player as Congress considers comprehensive legislation on the crypto market structure. According to proposals from the White House Working Group on Digital Assets, the CFTC is to assume a greater role in spot crypto trading. At the same time, the SEC will retain oversight of tokenized securities, such as digital bonds and equity tokens.
The interim dual-agency system is designed to clarify the jurisdictional confusion that has long plagued the digital-asset industry, making it unclear whether assets are subject to securities or commodities law. With Selig leading the CFTC, the agency might define the boundary and provide long-awaited regulatory clarity for crypto markets.
Trump’s selection of Selig follows the stalled nomination of Brian Quintenz, who withdrew in September after pushback from Tyler Winklevoss and his brother, founders of the Gemini Trust Company crypto exchange. The administration views Selig’s nomination as a response to that stalemate and as a reaffirmation of its pro-innovation stance heading into 2026.
Trump has gone out of his way to pardon Changpeng Zhao, the founder of Binance. By doing so, he has labeled the case against Zhao as part of the previous Trump administration's “war on cryptocurrency,” and the pardon has accentuated a change in the government’s overall attitude towards the crypto industry. The pro-crypto bill is being accelerated in U.S. legislation at the same time. The CEO of Coinbase Global, Brian Armstrong, stated that the adoption of the
Digital Asset Market Clarity Act (CLARITY Act) is “90%” inevitable. The House approved the bill in July with a wide bipartisan vote of 294–137 and seeks to establish proper asset categorization, manage DeFi and stablecoins, and regulate the custody of digital assets, among other objectives.
This week, legislators from both sides of the aisle convened to discuss primarily the regulatory framework for DeFi, whether consumers can receive rewards on stablecoins, and the process of finding a middle ground between innovation and risk. The potential appointment of Selig would bring a dramatic shift in the regulation of the digital asset world.
The anticipated nomination of Michael Selig marks a significant step in the U.S. crypto regulatory overhaul. If he is appointed to the top position at the CFTC, his progressive regulatory role could align federal regulation, delineate market boundaries, and bolster the nation's digital asset framework, especially with the CLARITY Act nearing final approval.
Read more: Elizabeth Warren Blasts Trump’s CZ Pardon as Crypto Influence Grows
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