Selig Moves Closer to CFTC Chairmanship as Senate Committee Advances Nomination

Mike Selig is one step closer to becoming the next chairman of the U.S. Commodity Futures Trading Commission (CFTC) after the Senate Agriculture Committee advanced his nomination, just a day after his confirmation hearing. If confirmed by the full Senate, Selig—currently a senior official at the U.S. Securities and Exchange Commission (SEC)—would become a key regulator shaping the future of the U.S. crypto industry.

Selig has played a central role in the SEC’s crypto policy initiatives, including its internal Project Crypto, which focuses on creating clearer and more supportive regulatory frameworks for digital assets. During his hearing, he emphasized that digital asset oversight would be a “critical mission” at the CFTC, especially as Congress continues developing legislation to expand the agency’s authority over the crypto market.

Senate Agriculture Committee Chairman John Boozman praised Selig’s qualifications, noting that the CFTC needs strong leadership as lawmakers weigh broader responsibilities for the agency. He stated that Selig is well-positioned to guide the regulator through this pivotal moment.

Selig became President Donald Trump’s nominee after the administration withdrew the candidacy of former CFTC Commissioner Brian Quintenz, who faced public criticism from Gemini CEO Tyler Winklevoss. With Quintenz out of the running, Selig now stands as Trump’s preferred choice to oversee commodities and much of the digital assets ecosystem.

Industry leaders have welcomed the progress of Selig’s nomination. Cody Carbone, CEO of the Digital Chamber, said his potential appointment is a positive indicator for the digital assets sector and ongoing policy discussions around crypto market structure.

If confirmed, Selig will inherit ongoing initiatives like Acting Chair Caroline Pham’s “crypto sprint,” which aims to bring clarity and structure to digital asset regulation. His leadership could play a defining role in how the U.S. crafts policies for a rapidly evolving crypto landscape.