President Donald Trump has nominated Michael Selig to serve as the new chair of the Commodity Futures Trading Commission (CFTC), a move that underscores the administration’s commitment to positioning the United States as a leader in the digital assets sector. Selig, currently the chief counsel for the CFTC’s crypto task force, has been instrumental in aligning regulatory efforts between the CFTC and the Securities and Exchange Commission (SEC), particularly in the realm of digital assets.
Selig’s nomination follows the stalled appointment of Brian Quintenz, whose candidacy faced opposition from Tyler Winklevoss, co-founder of the Gemini cryptocurrency exchange. Quintenz, a former CFTC commissioner, had accused Winklevoss of lobbying the White House to block his nomination. The CFTC traditionally comprises five bipartisan commissioners, with appointments historically balancing party representation.
Selig joined the CFTC in March 2025, bringing with him experience from his tenure as a partner at the law firm Willkie Farr & Gallagher. His nomination comes at a time of heightened regulatory focus on cryptocurrencies, with recent legislation such as the GENIUS Act and the CLARITY Act receiving positive reception from industry stakeholders. These legislative efforts aim to establish a comprehensive regulatory framework for digital assets, reflecting the administration’s broader promise to make the United States the “crypto capital of the world”.
In a statement on social media, Selig expressed his commitment to his new role, pledging to “work tirelessly to facilitate well-functioning commodity markets, promote freedom, competition, and innovation, and help the President make the United States the crypto capital of the world”.
The nomination now awaits Senate confirmation, a process that will be closely watched by both the financial industry and the burgeoning digital assets sector. If confirmed, Selig’s leadership is expected to play a pivotal role in shaping the regulatory landscape for commodities and digital assets in the United States.