Key Highlights
- U.S. President Donald Trump has reportedly nominated Michael Selig to be appointed as the new chairman of CFTC
- This is Trump’s second appointment after his first pick, Brian Quintenz, was opposed by Gemini co-founders Tyler and Cameron Winklevoss over past disputes.
- Michael Selig’s nomination still requires approval from the U.S. Senate, which could happen in early 2026.
According to the latest report, U.S. President Donald Trump has picked Michael Selig to be the new chairman of the Commodity Futures Trading Commission (CFTC).
We confidently support the nomination of Michael Selig as CFTC Chair. This is a critical era for crypto policy and @MikeSeligEsq is prepared to lead @CFTC from day one with a strong understanding of crypto’s potential to position the U.S. as a financial leader for generations. pic.twitter.com/1AWbBRi6oc
— The Digital Chamber (@DigitalChamber) October 24, 2025
The CFTC is a U.S. government agency that watches over futures, swaps, and now more digital currencies like cryptocurrencies.
However, Trump’s nomination of Selig for the CFTC’s chair position requires approval from the U.S. Senate, which could happen in early 2026. If approved, Selig will replace Acting Chair Caroline Pham, who has led the agency since 2024.
This is Trump’s second pick for the CFTC’s chair position after his first pick, Brian Quintenz, was blocked by opposition from Gemini co-founders Tyler and Cameron Winklevoss over past disputes.
Who is Michael Selig?
Michael Selig is a lawyer with deep knowledge in finance and crypto. He is the top legal advisor as chief counsel for the Securities and Exchange Commission’s (SEC) Crypto Task Force. This group, dedicated to the crypto sector, helps lawmakers develop a regulatory framework for digital assets.
Michael Selig grew up in New York and studied law at top schools. He started his career interning at the CFTC in 2010 under Chair Chris Giancarlo, known as “CryptoDad” for supporting digital currencies. Selig later worked at big law firms like Perkins Coie, Reed Smith, and Willkie Farr and Gallagher.
At Willkie, he was a partner advising crypto companies, stablecoin makers, NFT marketplaces, and blockchain networks. For time to time, he provided extra hands to clients to comply with SEC and CFTC regulations.
In March 2025, Selig joined the SEC as chief counsel for its new Crypto Task Force, led by Commissioner Hester Peirce. There, he works with SEC Chair Paul Atkins to match SEC and CFTC rules on finance and crypto.
Michael Selig’s Views on Crypto
Michael Selig supports crypto, but he wants smart and clear rules in place to keep investors safe. He also slammed the previous SEC under Gary Gensler’s leadership for choosing a way of “regulation by enforcement” and suing companies first without clear guidelines. He said agencies should create “do not harm” rules that protect people while letting new tech like blockchain and DeFi grow.
Selig helped drop SEC rules like Staff Accounting Bulletin 121, which made banks scared to hold crypto. He backed Ripple in its SE lawsuit by pushing for the release of Hinman emails. Experts call him pro-crypto because he pushes for harmony between the SEC and the CFTC.
“Mike Selig is a well-respected lawyer and industry expert. He understands the tech and the need to allow room for innovation, but also cares about getting to the right legal answer,” stated Amanda Tuminelli, executive director of DeFi Education Fund.
Trump Makes SEC and CFTC Better for Crypto with Pro-Choice
U.S. President Donald Trump wants the U.S. to be the crypto capital of the world, so he chooses leaders who like digital currencies and clear rules. This helps end fights between agencies and grows the $3 trillion in market capitalization.
At the SEC, Trump named Paul Atkins as chair in January 2025. Atkins, a former commissioner, advised crypto groups and started the Crypto Task Force. It dropped lawsuits against Coinbase, Kraken, Binance, and Ripple. He also made efforts to accelerate crypto-based ETF approvals with new regulatory standards.
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