Key Takeaways
- Michael Selig has been sworn in as the chairman of the CFTC, emphasizing pro-Bitcoin and digital asset perspectives.
- Selig aims to oversee modern financial markets and foster responsible innovation in US commodity derivatives and crypto regulations.
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Pro-Bitcoin Michael Selig has officially assumed leadership of the Commodity Futures Trading Commission after being confirmed by the Senate, according to a Monday announcement.
He succeeds Caroline Pham, who announced her departure from public service today; Pham had served as a commissioner since April 2022 and as Acting Chairman beginning in January 2025.
Selig said in a statement that the CFTC is entering a period of major transformation, driven by rising retail participation and the emergence of novel products and platforms. He said the agency would take on an expanded role in setting practical regulatory standards for digital asset markets while maintaining the stability and security of US derivatives markets.
“I’m grateful for the confidence President Trump has placed in me and for the opportunity to lead the CFTC at this pivotal time,” said the newly appointed chair.
“Today begins a new chapter for the CFTC. We are at a unique moment as a wide range of novel technologies, products, and platforms are emerging, retail participation in the commodity markets is at an all-time high, and Congress is poised to send digital asset market structure legislation to the President’s desk, cementing the US as the Crypto Capital of the World,” he added.
With a strong pro-crypto record, Selig is expected to bring a clarity-first approach to digital asset regulation as the CFTC expands its authority.
Before joining the CFTC, he served as chief counsel to the SEC’s Crypto Task Force and as senior advisor to Chairman Paul Atkins.
His work focused on modernizing regulatory frameworks for digital assets, coordinating SEC and CFTC oversight, and advancing US leadership in digital financial technology.
