Trump plans to pick Michael Selig to lead CFTC

President Donald Trump is reportedly considering Michael Selig, the chief counsel for the SEC's crypto task force, to chair the Commodity Futures Trading Commission (CFTC). This decision marks an effort by the Trump administration to streamline the federal oversight of digital assets amid ongoing legislative discussions to define the market structure for cryptocurrencies. Selig has been instrumental in aligning the regulatory strategies of the SEC and CFTC concerning digital assets, swaps, and futures markets. His background includes serving as a partner at Willkie Farr & Gallagher, focusing on derivatives and financial regulation. If confirmed by the Senate, he would replace the current acting leadership at the CFTC, a key player as Congress reviews bills to clarify the jurisdictional lines between the SEC and CFTC. This nomination follows Trump's previous, unsuccessful attempt to appoint Brian Quintenz to the position, which faced resistance from industry stakeholders.

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