🚨 Breaking: Pro-$XRP Advocate Mike Selig Nominated as New CFTC Chair
Washington, D.C. — In a move that could reshape the U.S. crypto regulatory landscape, Mike Selig has been nominated to serve as the next Chairman of the U.S. Commodity Futures Trading Commission (CFTC).
Selig, known for his pro-crypto and pro-XRP stance, stated in a social media post that he aims to help make the U.S. “the crypto capital of the world.”
> “Chairman Selig is going to do a great job at the CFTC. I have full confidence in his ability and leadership,” one official commented following the announcement.
💬 A Longtime XRP Supporter
Selig has been a vocal supporter of XRP throughout Ripple’s high-profile legal battle with the U.S. Securities and Exchange Commission (SEC).
Back in 2023, he argued:
> “XRP itself is simply computer code — a fungible commodity, like gold or whiskey — both of which can also be sold as part of investment schemes that implicate securities laws.”
He also criticized the SEC’s proposed $2 billion penalty against Ripple, calling it “untenable” and “inconsistent with the facts.”
🏛️ Industry Reaction
The crypto community and industry leaders have largely welcomed Selig’s nomination, viewing it as a step toward regulatory clarity.
> “Great to see Mike Selig nominated to chair the CFTC,” said venture capitalist Chris Dixon. “The timing couldn’t be more important — market structure legislation needs to cross the finish line to deliver clear, workable rules for builders and consumers.”
⚖️ What It Means
Selig’s appointment could mark a major policy shift in Washington, signaling a friendlier environment for digital assets. With his leadership, the CFTC may take a more commodity-based approach to crypto regulation, potentially strengthening the case for assets like XRP to be treated outside the SEC’s jurisdiction.