cftc

🇺🇸 Senate Confirms Michael Selig as CFTC Chair

The U.S. Senate has voted to advance and confirm Michael Selig as the new Chairman of the Commodity Futures Trading Commission (CFTC), marking $ETH a major step in the evolving regulatory landscape for digital assets in the United States. The confirmation came after the Senate approved Selig’s nomination by a 53–43 vote, officially positioning him to lead one of the country’s most influential financial regulators.
🧑‍⚖️ Who Is Michael Selig?
Michael Selig is a seasoned regulatory attorney with extensive experience in financial markets and digital asset policy. He previously worked as chief counsel to the SEC’s Crypto Task Force, advising on digital asset governance, and has also served in legal roles at the CFTC earlier in his career. His professional background blends expertise in both traditional commodities oversight and emerging crypto markets.

Selig’s nomination initially advanced through the Senate Agriculture Committee on a tight 12–11 party-line vote, before proceeding to the full Senate for confirmation.
📊 What This Means for Crypto Markets
Selig’s appointment comes at a pivotal time for U.S. crypto regulation:

Regulatory focus on digital assets: With lawmakers considering bills that could expand the CFTC’s authority over spot cryptocurrency markets, Selig is expected to play a key role in shaping how these rules are implemented nationally. Balance between enforcement and innovation: During his confirmation process, Selig emphasized a principled regulatory approach that targets fraud and market abuse while avoiding overly burdensome enforcement on technical issues. Interagency coordination: His background advising the SEC’s crypto task force positions him to foster closer cooperation between regulators, potentially reducing jurisdictional overlap that has historically slowed progress.
🔎 What’s Next
With confirmation complete, Selig is expected to be sworn in soon as the 15th chairman of the CFTC. Market participants will be closely watching his early policy signals, especially how the agency addresses regulatory clarity for crypto derivatives, spot trading frameworks, and broader market structure reforms.
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#MichaelSelig #CFTC #cryptocurrency #USPolitics2025 #RegulatoryUpdate

In a major victory for President Donald Trump’s pro-crypto administration, the U.S. Senate on Thursday officially confirmed Mike Selig as Chairman of the Commodity Futures Trading Commission (CFTC) and Travis Hill as Chairman of the Federal Deposit Insurance Corporation (FDIC) — two of the most powerful regulators shaping America’s crypto future.
The Senate approved the appointments in a 53–43 vote, also advancing a broader package of nominees.

CFTC Under New Leadership: Selig Takes the Helm
Mike Selig will replace acting chair Caroline Pham, who had previously led several crypto-focused initiatives within the agency. Pham is now set to join MoonPay as Chief Legal and Administrative Officer, marking her exit from public service.
Selig’s appointment signals continuity and escalation of crypto-focused regulatory work. As a former SEC official, he’s long been an advocate for progressive digital asset policy, and his arrival comes as CFTC is finalizing a wave of new crypto regulations — known internally as the agency’s “crypto sprint.”
Key areas of focus include:

🔹 Approving stablecoins as tokenized collateral

🔹 Integrating blockchain language across CFTC rulebooks

🔹 Supporting leveraged spot crypto products — with Bitnomial becoming the first platform to apply
Selig may soon become the sole voting member of the commission. Pham previously revealed plans to step down upon Selig’s arrival, which could give him full control — but also increase legal exposure if policies are challenged.
Meanwhile, Congress is working on legislation that would formally expand CFTC’s authority over crypto, with a final vote in the Senate still pending. Observers expect the Senate Banking Committee to hold markups later this month.

Travis Hill Confirmed to Lead FDIC, Continues Crypto-Friendly Stance
Travis Hill, now confirmed as FDIC Chairman, has served as acting chair with a reputation for being open to digital assets. Under his leadership, the FDIC has been actively exploring stablecoin issuer regulation and the broader crypto-banking nexus.
At a December 2 House Financial Services Committee hearing, Hill criticized the Biden-era policy requiring banks to seek pre-approval before engaging in crypto — a policy he said has been repealed:
“We’ve reversed the policy of the last few years. Banks are expected to manage risks, but are no longer restricted from serving crypto clients.”

— Travis Hill, Chairman of the FDIC
Hill has also led efforts to address debanking in the crypto sector, stepping in when banks severed ties with digital asset firms. This approach has gained strong support among industry players and Republican lawmakers alike.

Trump’s Full Regulatory Overhaul Takes Shape
These two appointments fill some of the most influential vacancies in the Trump administration’s pro-crypto regulatory agenda. The President has already appointed officials to lead the SEC, Office of the Comptroller of the Currency, and U.S. Treasury.
Meanwhile, Trump is reshaping the Federal Reserve. His nominee for Vice Chair of Supervision, Michelle Bowman, assumed the role five months ago. Plans are underway to replace Fed Chair Jerome Powell, whose term ends next year.

#CryptoRegulation , #CFTC , #TRUMP , #USPolitics , #Fed

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