Overview
- White House crypto lead David Sacks and Michael Selig confirmed the selection on X, and outlets report the nomination has been sent to the Senate.
- Trump turned to Selig after withdrawing Brian Quintenz’s stalled nomination following public opposition from Gemini co-founders Tyler and Cameron Winklevoss.
- Selig serves as chief counsel to the SEC’s crypto task force and previously worked at Willkie Farr & Gallagher as well as earlier at the CFTC.
- The move comes as Congress advances digital-asset market-structure bills, including the CLARITY Act and the GENIUS Act, that could expand CFTC oversight of spot crypto markets.
- The CFTC is operating with limited leadership under Acting Chair Caroline Pham, making the timing of Selig’s confirmation consequential for near-term rulemaking on crypto and prediction markets.