U.S. President Donald Trump has tapped the Securities and Exchange Commission’s (SEC) Mike Selig to lead the Commodity Futures Trading Commission, the latter confirmed on Saturday.
Mike Selig Speaks Amid CFTC Chair News
Selig, who most recently led the SEC’s Crypto Task Force as chief counsel, took to X on October 25 to say he was “honored” to spearhead the CFTC.
“With the President’s leadership, a Great Golden Age for America’s Financial Markets and a Wealth of New Opportunities stand before us,” Selig said.
“I pledge 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,” he added.
Brian Quintenz Nomination Withdrawn After Winklevoss Concerns
Selig’s nomination comes after the nomination process for Trump’s initial pick for CFTC chair, a16z policy head Brian Quintenz, stalled earlier this year.
In July, reports emerged that Gemini co-founders Cameron and Tyler allegedly voiced concerns over whether Quintenz was aligned with the Trump administration’s plans for crypto.
In September, Quintenz shared a series of messages between him and Tyler Winklevoss on X before his nomination was rescinded later that month.
Trump, who largely campaigned with support from the blockchain sector, has received both praise and scrutiny for his affiliation with the digital asset industry.
Shortly before his inauguration, Trump selected Yammer founder David Sacks to serve as the newly established White House A.I. and Crypto Czar.
Following news of Selig’s nomination, Sacks praised him as “deeply knowledgeable about financial markets” and “passionate about modernizing our regulatory approach in order to maintain America’s competitiveness in the digital asset era.”
“On behalf of the President’s Working Group on Digital Assets, @patrickjwitt and I look forward to continuing our work with Mike to deliver on President Trump’s promise to make the U.S. the crypto capital of the planet,” he continued.
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