Trump Nominates SEC Crypto Lawyer Mike Selig to Lead CFTC

President Donald Trump has nominated Mike Selig, currently chief counsel of the SEC’s Crypto Task Force, to lead the Commodity Futures Trading Commission (CFTC), signaling a push to modernize and unify U.S. financial regulation around digital assets. Selig’s nomination follows the withdrawal of Trump's initial pick, Brian Quintenz, whose confirmation was derailed partly due to opposition from crypto figures like the Winklevoss twins. Selig has pledged to promote well-functioning commodity markets, freedom, competition, and innovation, aiming to make the U.S. the global crypto capital. His leadership is expected to help bridge regulatory gaps between the SEC and CFTC, addressing the rapidly evolving digital asset sector while balancing investor protection. The Trump administration’s broader pro-crypto stance includes appointing a White House A.I. and Crypto Czar and issuing an executive order to establish a national digital asset reserve. Selig’s nomination requires Senate confirmation, which may be delayed amid the ongoing government shutdown impacting agency staffing and operations.