Overview

• Multiple reports say Mike Selig, chief counsel to the SEC’s Crypto Task Force, has moved into the lead for the CFTC chair.
• Ripple’s chief legal officer Stuart Alderoty publicly endorsed Selig, saying he could harmonize SEC and CFTC approaches to digital assets.
• The White House is still considering other candidates, including Tyler Williams, Josh Sterling, Jill Sommers and Acting Chair Caroline Pham.
• Brian Quintenz’s earlier nomination was dropped after reported industry pushback from the Winklevosses tied to disputes involving Gemini.
• The choice carries added weight because the CLARITY Act passed by the House would treat most crypto tokens as commodities and bolster CFTC authority.