Pro-cryptocurrency candidate assigned to align U.S. regulations on digital assets

Trump to put forward SEC's 'crypto-friendly' Michael Selig for CFTC Chair: Report — as per

The Trump administration is preparing to select Michael Selig, a senior adviser at the Securities and Exchange Commission (SEC) recognized for his supportive views on cryptocurrency, as the next leader of the Commodity Futures Trading Commission (CFTC). This decision, cited by officials, signals a significant change in U.S. crypto policy and may quicken the process of aligning regulatory approaches between the two agencies. Selig's nomination comes after former CFTC commissioner Brian Quintenz withdrew from consideration in September 2024 due to industry resistance, according to Coinotag.

Selig, who currently serves as chief counsel for the SEC's crypto task force and has played a major role in shaping the agency's digital asset policies, is well-versed in the challenges of the crypto market. His likely appointment fits with Trump’s broader plan to consolidate crypto regulation under the CFTC, which the White House has tasked with overseeing spot markets for digital assets that are not securities, Coinotag notes. Caroline Pham, the CFTC’s Acting Chair, has stressed the importance of establishing a unified set of rules for tokenized collateral and spot crypto trading before the year ends, highlighting the urgency to complete regulations ahead of a possible legislative cutoff, as reported by

This nomination comes at a time when both the SEC and CFTC are working to clarify their respective roles and reduce uncertainty for those in the market. In July 2024, the White House Working Group on Digital Assets suggested giving the CFTC more authority over crypto assets based on commodities such as

Yet, progress has been slow. The ongoing federal government shutdown, now in its third month, has disrupted the work of regulatory agencies. SEC Chair Paul Atkins has admitted that the shutdown has postponed several initiatives under his "Project Crypto" plan, including the creation of a tailored exemption for securities offerings, as The Block has pointed out. Meanwhile, lawmakers are hurrying to finalize new laws before the year concludes, with Senate Republicans and Democrats separately meeting with crypto industry representatives to discuss compliance and innovation, also noted by The Block.

Selig’s potential appointment could help close the gap between the agencies. At the SEC, he has provided guidance on blockchain investigations and market oversight, making him well-positioned to support the CFTC’s “crypto sprint” program that began in August 2024, according to Coinotag. Observers believe Selig’s favorable attitude toward crypto—shown by his support for innovation-driven regulation—may help ease friction between regulators and the industry, while still safeguarding investors, Coinotag reports.

The CFTC’s emphasis on tokenized collateral and spot trading highlights the increasing importance of blockchain technology in the financial sector. By bringing tokenization under regulatory supervision, the agency seeks to update settlement processes and reduce risks from unregulated markets, FinanceFeeds reports. Together with the SEC’s focus on openness and accountability, these efforts could make 2026 a landmark year for institutional involvement in crypto assets, according to FinanceFeeds.