Overview
- Michael Selig took the oath as the CFTC’s 16th chairman after a 53–43 Senate confirmation, following his October 27 nomination by President Donald Trump and with a term running to April 2029.
- He previously served as chief counsel to the SEC’s Crypto Task Force and has pledged to replace regulation by enforcement with formal, notice-and-comment rulemaking.
- Selig said enforcement will prioritize core market integrity issues such as fraud, manipulation, and abusive conduct over minor technical violations.
- He inherits Caroline Pham’s initiatives, including the Crypto Sprint, tokenized-collateral and spot-crypto listings on registered exchanges, an automated market surveillance system, and limited no-action relief for four prediction markets; Pham is joining MoonPay.
- Lawmakers are nearing digital-asset market-structure legislation that could delineate SEC–CFTC authority and expand the CFTC’s remit, which Selig says the agency is prepared to implement.