The United States Senate confirmed this Thursday Michael Selig as the new president of the Commodity Futures Trading Commission (CFTC). He is the key advisor to the Securities and Exchange Commission (SEC) on cryptocurrency matters.
The confirmation was carried out through a joint vote that included dozens of nominationswith a result of 53 to 43.
Selig is a lawyer specializing in derivatives, commodities and cryptocurrencieswith a career that combines experience in the public and private sectors.
His career in the field began at the CFTC itself as a legal assistant during the presidency of J. Christopher Giancarlo between 2014 and 2015. Subsequently, job at private firms such as Cadwalader, Wickersham & Taft, Perkins Coie and Willkie Farr & Gallagher.
In March 2025, the lawyer came back to the government by joining the SEC as chief counsel of the Cryptocurrency Working Group. In order to promote the industry of these assets in the United States, with the Trump administration, the organization advanced different regulations in favor of the sector.
Without going any further, the SEC this week withdrew a policy issued two years ago that restricted banks from operating with innovations such as cryptocurrencies. In addition, this year the organization surprised with initiatives such as holding a round table on financial privacy and approving spot exchange-traded funds (ETF) for the cryptocurrencies solana (SOL), dogecoin (DOGE) and XRP.
President Donald Trump presented Selig’s nomination to lead the CFTC in October 2025. This after withdrawing the candidacy of its original candidate, Brian Quintenz.
Then, in November, Republican Senator Cindy Hyde-Smith spoke about a meeting with Selig. In it, he expressed his interest in knowing their proposals to promote more transparent futures markets, for the benefit of farmers and ranchers.
Sector support and opening signals at the CFTC
This novelty was accompanied by favorable reactions from the industry. In a statement to US media, Cody Carbone, executive director of The Digital Chamber – a trade association for the digital asset sector – celebrated Selig’s confirmation and highlighted his solid technical experience.
According to him, “his understanding of the value of the industry to consumers and investors will be crucial as the commission and Congress draft the rules and laws that will regulate the industry in the United States.”
In 2025, The CFTC has given concrete signals of openness to innovation. Just a few days ago, the organization announced the launch of a pilot program that will allow the use of bitcoin, ether (ETH) and the stablecoin USDC coin (USDC) as collateral in regulated derivatives markets in the United States.
As reported by CriptoNoticias, the initiative seeks to offer safe alternatives to platforms offshoreincorporate digital assets into the local financial system and strengthen customer monitoring and protection mechanisms.