Trump Nominates Michael Selig as New CFTC Chair

U.S. President Donald Trump has chosen Michael Selig as the chair of the Commodity Futures Trading Commission (CFTC), according to Bloomberg reports on Friday. This nomination replaces his previous nominee, Brian Quintez, following pressure from Tyler and Cameron Winklevoss, founders of Gemini.

### Selig as the New CFTC Chair

Michael Selig currently serves as chief counsel for the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force and Senior Advisor to SEC Chairman Paul Atkins. Before joining the SEC, Selig was a partner at the law firm Willkie Farr & Gallagher LLP, where he specialized in asset management and digital assets regulation.

Selig’s extensive background positions him well to promote greater coordination between the SEC and CFTC, two key agencies overseeing financial markets. This nomination is closely tied to the implementation and impact of the CLARITY and GENIUS Act, which are expected to shape crypto regulation.

With Selig at the helm of the CFTC, he will have direct influence on how major cryptocurrencies and tokenized assets are regulated in practice. He is expected to leverage his cross-agency experience to harmonize regulatory frameworks related to spot crypto trading, tokenized collateral, and investor protections. These efforts are likely to advance institutional confidence in regulated digital assets.

### Industry Reaction

Earlier this month, when Selig emerged as the leading candidate for CFTC Chair, Jake Chervinsky, chief legal officer at the Variant Fund, described the development as a pivotal moment for U.S. crypto policy. He said:

> “There’s nothing more important for crypto policy than the White House nominating a new CFTC chair, and nobody better than Mike Selig for the job. I’ve had the honor of knowing Mike for years, and he’s the real deal: a brilliant lawyer and proven leader perfect for this role.”

Chervinsky also praised Selig as a trustworthy and skilled lawyer with proven leadership experience, qualities that could help stabilize and advance crypto oversight in a positive and more predictable manner.

### What’s Next? Senate Vote

Following President Trump’s nomination, Selig must be approved by the U.S. Senate before officially taking office. The confirmation process involves a hearing before the Senate Agriculture Committee, which typically handles CFTC nominations.

During the hearing, Selig will likely face questions regarding his qualifications and his stance on current U.S. regulations. If he receives Senate approval, Selig can officially begin his term as Chair of the Commodity Futures Trading Commission.
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