Particle.news
Download on the App Store
3 ARTICLES
·
last mo.

Senate Agriculture Panel Advances Selig for CFTC Chair

The party-line vote puts an SEC crypto specialist on the cusp of leading the CFTC during debate over expanded spot-market authority.

Michael Selig, the nominee to be chairman of the Commodity Futures Trading Commission, at his appearance Wednesday before the Senate Agriculture Committee.
Trump's cftc pick, mike selig, clears hurdle on way toward confirmation vote

Overview

  • The Senate Agriculture Committee approved Michael Selig’s nomination 12–11 along party lines, sending it to the full Senate for a confirmation vote.
  • If confirmed, Selig would take over from Acting Chair Caroline Pham and likely steer U.S. oversight of much of the digital-asset market.
  • Lawmakers released a Nov. 10 discussion draft to grant the CFTC explicit authority over spot cryptocurrency trading, raising the stakes for the chair selection.
  • Selig is a senior SEC lawyer tied to the agency’s Project Crypto and told senators that digital-asset policy will be a critical mission at the CFTC.
  • The CFTC now has only one sitting member, and industry voices such as the Digital Chamber praised Selig’s advancement as helpful for market-structure debates, while his nomination follows the withdrawal of Brian Quintenz after a clash with Tyler Winklevoss.