Overview
- The Senate Agriculture Committee scheduled Selig’s confirmation hearing for Nov. 19 at 3 p.m. ET, moving just 12 days after his nomination.
- Selig is chief counsel to the SEC’s Crypto Task Force and previously worked with former CFTC Chair Chris Giancarlo.
- A Nov. 10 bipartisan discussion draft from the Agriculture Committee would define digital commodities, set up a CFTC-led spot market regime with exchange registration and customer-asset segregation, and create new funding for the agency.
- A separate Senate Banking draft would expand SEC authority over certain “ancillary asset” tokens, setting up negotiations over how responsibilities are split between the agencies.
- Acting CFTC Chair Caroline Pham says she will depart once a chair is confirmed, and Trump withdrew earlier nominee Brian Quintenz after public opposition from the Winklevoss twins.