Key Notes
- President Donald Trump has nominated Michael Selig to become CFTC Chairman.
- Selig is the current Chief Counsel of the SEC Crypto Task Force.
- If confirmed, Selig will replace Caroline Pham, the acting chair of the CFTC.
In a recent report, Bloomberg noted that United States President Donald Trump has nominated Michael Selig to lead the Commodity Futures Trading Commission (CFTC). This comes at a pivotal time, when lawmakers are working to place the agency at the helm of crypto regulation. The nomination is still subject to Senate approval.
From the SEC Crypto Task Force to the CFTC
On October 24, President Donald Trump handpicked Matthew Selig to lead the CFTC under his administration, per a Bloomberg report .
Noteworthy, Selig is the current chief counsel for the Crypto Task Force of the Securities and Exchange Commission (SEC). He had also worked at the CFTC under former Chairman Chris Giancarlo. At some point, he served as a partner specializing in crypto at the law firm Willkie Farr & Gallagher.
The timing of this nomination is notable, considering that lawmakers in the region are on the verge of cementing the agency’s oversight over digital assets. Several bills in the House and Senate would give CFTC broader authority over the burgeoning digital asset industry.
After CFTC Chair Rostin Behnam’s exit from the agency, which coincided with the inauguration of Trump, Caroline Pham has been serving as the acting CFTC Chair for the agency. The president once nominated Brian Quintenz of a16z, but faced opposition from Gemini’s Tyler and Cameron Winklevoss, who raised concerns about conflicts of interest.
Industry Experts React to Trump Nomination For CFTC Chair
As it stands, Selig has been sent to the Senate to obtain nomination hearings and approval, after which he can fully assume the position of CFTC Chairman. Based on industry experts’ opinions about him, there is a high likelihood that Selig will receive the confirmation required. In a statement, Amanda Tuminelli, the Executive Director of DeFi Education Fund, acknowledged his expertise and experience.
He described Selig as a well-respected lawyer and industry expert who understands the technology as well as the need to allow room for innovation.
Tuminelli also noted that the man cares about getting to the right legal answer. Similarly, White House AI and Crypto Czar David Sacks believes that Trump made a great choice by nominating Selig.
President Trump has made an excellent choice in Mike Selig to lead the @CFTC .
As anyone who knows him will attest, @MikeSeligEsq is deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach in order to maintain America’s…
— David Sacks (@davidsacks47) October 25, 2025
His opinion comes from the recognition of Selig’s contribution to the President’s crypto agenda. Like Tuminelli, Sacks noted that the nominee is quite knowledgeable about financial markets. Beyond his knowledge is his passion for modernizing the regulatory approach “in order to maintain America’s competitiveness in the digital asset era.”
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