Trump Picks SEC Crypto Lawyer for CFTC Leadership

President Donald Trump has chosen Michael Selig, the chief counsel for the Securities and Exchange Commission's crypto task force, to chair the Commodity Futures Trading Commission (CFTC).

This move signals a strategic push by the Trump administration to advance crypto-friendly regulation amid growing legislative focus on digital assets.

Selig’s appointment follows the withdrawal of Trump's previous nominee, Brian Quintenz, who faced opposition from influential crypto figures including Tyler Winklevoss.​

Driving U.S. Crypto Regulation Toward Clarity and Growth

Selig's background as a top SEC crypto regulator and close adviser to former SEC Chairman Paul Atkins positions him to potentially foster tighter coordination between the SEC and the CFTC.

His experience extends across asset management, commodities, and digital currencies, giving him a comprehensive understanding of financial markets.

Selig has publicly committed to promoting "Freedom, Competition and Innovation" to make the United States the leading global hub for cryptocurrency.​

The timing of this nomination coincides with the recent momentum behind bipartisan crypto legislation like the GENIUS Act and the CLARITY Act.

These legislative efforts aim to define roles and regulations around digital assets, decentralized finance (DeFi), and stablecoins, clarifying regulatory jurisdiction between the SEC and CFTC.

Market participants and cryptocurrency advocates have hailed Selig's nomination as a positive step towards achieving regulatory clarity and a stable framework for innovation.​

President Trump has demonstrated strong support for the cryptocurrency sector, underscored by his pardoning of Binance founder Changpeng Zhao and promises to transform America into the "Crypto Capital of the World."

Selig’s leadership at the CFTC is expected to accelerate regulatory modernization that aligns with these broader objectives.​

Industry Response and Future Outlook

The crypto industry has widely welcomed Selig’s nomination. Ji Kim, CEO of the Crypto Council for Innovation, praised Selig for his rare expertise spanning consumer protection, market mechanics, and advanced technology—qualities deemed critical for ushering in a new era of innovation with regulatory stability.

While the CFTC currently faces leadership challenges, with only one commissioner actively serving,

Selig's confirmation could stabilize the agency and prevent what some have described as a regulatory “Wild West” in the crypto market.​

If confirmed by the Senate, Selig will oversee a growing role for the CFTC as Congress debates expanding its authority over the multi-trillion-dollar crypto market.

His approach will likely emphasize cooperation between regulatory bodies, facilitating innovation while ensuring market integrity.