Trump to Appoint Michael Selig as CFTC Chair in Pro-Crypto Move
US President Donald Trump is reportedly preparing to appoint Michael Selig as the next chair of the Commodity Futures Trading Commission (CFTC), according to Bloomberg. The decision marks another pro-crypto step in Trump’s ongoing regulatory reshuffle aimed at redefining oversight of digital assets in the United States.
Appointment After a Political Deadlock
Trump’s administration made the nomination following a stalled process in September, when the president withdrew the candidacy of Brian Quintenz under pressure from Tyler and Cameron Winklevoss, co-founders of the Gemini exchange. Discussions about transferring crypto oversight from the SEC to the CFTC have been ongoing since 2024 as part of Trump’s broader digital asset reform agenda.Michael Selig’s Pro-Crypto Background
Michael Selig currently serves as chief legal counsel for the SEC’s crypto task force and senior adviser to SEC Commissioner Paul Atkins. Within the industry, Selig is widely viewed as a “pro-crypto” figure who supports innovation-friendly regulation and transparency in the digital asset space. Analysts and crypto leaders have welcomed the nomination as a sign of regulatory balance between innovation and investor protection.Under Trump’s new framework, the CFTC will share crypto oversight responsibilities with the SEC, following recommendations from the White House Working Group on Digital Assets outlined in its July 2025 report.
Dividing Oversight Between CFTC and SEC
The working group proposed that the CFTC oversee spot crypto trading and commodity-classified assets, while the SEC would retain authority over tokenized securities such as digital bonds and equity tokens. Both agencies released a joint statement in September affirming their intention to “harmonize regulatory efforts” — a move legal experts believe could finally bring clarity to the US crypto market.Rumors of a Potential Agency Merger
The growing collaboration between the SEC and CFTC has fueled speculation about a potential merger into a unified regulatory body. However, Paul Atkins dismissed the rumors, noting that only the President or Congress could authorize such a structural consolidation. Instead, the administration aims for coordinated oversight rather than institutional unification.A Strategic Shift for US Crypto Policy
If confirmed, Selig’s leadership could redefine the relationship between Washington and the crypto industry. His appointment would align with Trump’s long-stated goal of establishing the United States as a global hub for digital finance, while reducing bureaucratic friction that has long stifled innovation.Conclusion
The nomination of Michael Selig underscores a clear strategic shift in US regulatory policy — one that seeks to balance market integrity with technological progress. For the crypto industry, it signals a potentially friendlier environment where digital assets are recognized as part of the nation’s financial future rather than its gray zone.Editorial Team — CoinBotLab