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President Donald Trump has chosen Michael Selig, one of Washington’s most experienced crypto lawyers, to head the Commodity Futures Trading Commission (CFTC), according to a report from Bloomberg.
Selig, who currently serves as chief counsel for the SEC’s Crypto Task Force and previously worked as a partner at Willkie Farr & Gallagher, is expected to face Senate confirmation hearings in the coming weeks. His appointment comes as Congress prepares to expand the CFTC’s authority over digital assets through pending bipartisan legislation.
Industry figures were quick to praise the choice, describing Selig as both knowledgeable and pragmatic. “Mike understands how to balance innovation with the rule of law,” said Amanda Tuminelli, executive director of the DeFi Education Fund.
The nomination follows the White House’s decision to withdraw its earlier pick, Brian Quintenz of a16z, after concerns were raised over potential conflicts of interest. Despite disappointment over Quintenz’s exit, many within the crypto industry view Selig as an ideal replacement.
Jake Chervinsky, chief legal officer at Variant Fund, called the nomination a “home run” for the digital asset sector. “He’s one of the sharpest legal minds in crypto policy,” Chervinsky said, adding that Selig’s deep understanding of both securities and derivatives law makes him “perfect for the job.”
If confirmed, Selig would take charge of the CFTC during a critical phase – one that could finally determine how the United States regulates the trillion-dollar crypto market.