Trump Names SEC Crypto Task Force Head Selig as Next Nominee to Run U.S. CFTC

President Donald Trump has nominated Mike Selig, an attorney at the Securities and Exchange Commission (SEC) and head of its crypto task force, to lead the U.S. Commodity Futures Trading Commission (CFTC). This nomination follows the withdrawal of former CFTC Commissioner Brian Quintenz. If confirmed, Selig will oversee regulatory authority over digital asset transactions while shaping new U.S. crypto policies. He brings significant experience from his tenure at the CFTC and is familiar with both traditional commodities and the crypto landscape. The CFTC could assume important regulatory roles, particularly if Congress passes the Digital Asset Market Clarity Act, which would grant it authority over spot trading in cryptocurrencies. This development is seen as critical for the crypto industry, as Selig's leadership may foster innovation while ensuring legal compliance in a rapidly evolving market. The agency has historically been viewed as the more favorable regulator compared to the SEC.

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