selig

According to The Block, CFTC Chairman Michael Selig stated in a Washington Post article that the Commodity Futures Trading Commission is charting a new course and has announced the launch of a new initiative called Future Proof, aimed at modernizing the regulatory approach to digital assets.Michael Selig mentioned that the derivatives regulatory body needs an upgrade and plans to conduct a comprehensive review of existing rules, with the goal of adopting what he describes as a minimum effective dose of regulation. He pointed out that decades-old rules designed for agricultural futures contracts are not suitable for emerging products or trading venues, and just as American businesses modernize the traditional financial system by leveraging new technologies, the CFTC must upgrade its approach to unleash innovation.Michael Selig, appointed by Donald Trump, took office last month and stated that if Congress passes legislation on the market structure for digital assets, the CFTC will take on a broad new set of responsibilities and ensure that these markets thrive domestically through a tailored regulatory framework, maintaining the leading position of the U.S. market. Currently, lawmakers are debating a bill to expand the CFTC's jurisdiction over the digital asset industry.

According to the announcement on the CFTC official website, Caroline D. Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), has officially stepped down, and Michael Selig has succeeded her as the 16th chair.Selig previously served on the SEC's Crypto Assets Task Force, actively promoting legislative frameworks for digital asset market structures and advocating for an end to the "regulation by enforcement" approach. He stated that he will lead the CFTC in establishing "common-sense" rules in the new era of financial innovation in the U.S., helping the country become a global hub for crypto capital.

According to The Block, the U.S. Senate Agriculture Committee approved President Trump's nominee for chairman of the Commodity Futures Trading Commission (CFTC), Michael Selig, by a partisan vote of 12 to 11 on Thursday. The nomination will be sent to the full Senate for a final vote. This appointment is closely watched as Congress considers granting the CFTC broader regulatory authority over cryptocurrencies.During the nomination hearing on Wednesday, Selig was questioned by lawmakers about whether the CFTC needs increased funding to handle its digital asset regulatory responsibilities. Compared to the Securities and Exchange Commission (SEC), which has 4,200 full-time employees, the CFTC currently has only 543 full-time employees. Selig stated that once he assumes the chairmanship, he will assess whether the agency needs additional funding.Selig emphasized the need for clear rules for the crypto industry that protect investors while allowing software developers and new exchanges to thrive. He stated, "This is a real opportunity to create a framework that allows software developers to flourish, enables new exchanges to be established, protects investors, and has the controls that exchanges should have."

According to The Block, Michael Selig, the nominee for chairman of the U.S. CFTC, stated at a Senate Agriculture Committee hearing that if confirmed, he would advocate for a "clear and simple" regulatory framework for crypto assets to avoid overregulation.Selig previously served as the chief legal advisor for the SEC's crypto task force. Currently, Congress is pushing two bills to empower the CFTC to regulate crypto assets, and if passed, Selig will lead key changes. The hearing also addressed issues related to preventing incidents like FTX and the CFTC's resource shortages. Selig indicated that he would assess whether additional budget is needed.

ChainCatcher news, according to Crypto In America, the White House has officially nominated SEC cryptocurrency working group chief legal counsel Mike Selig to serve as the chairman of the Commodity Futures Trading Commission (CFTC), ending weeks of leadership uncertainty.This nomination comes at a critical time as the Senate advances legislation on cryptocurrency market structure, which will grant the CFTC broader regulatory authority over digital assets. Selig previously worked at the CFTC under former chairman Chris Giancarlo and has extensive experience in the cryptocurrency field.Meanwhile, the White House is considering candidates, including Paul Balzano and Nathan Anonick, to fill the vacancies on the five-member commission. The Senate Agriculture Committee is expected to soon release its draft for digital commodity regulation, complementing the proposal from the Banking Committee. Industry insiders widely support having experts who understand cryptocurrency lead the CFTC.

ChainCatcher news, according to Bloomberg, an anonymous government official revealed that President Donald Trump has nominated Michael Selig to be the chairman of the Commodity Futures Trading Commission (CFTC). Michael Selig is the chief legal advisor of the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group and has been an assistant to SEC Chairman Paul Atkins.During this time, Michael Selig has been dedicated to coordinating the policies of the SEC and CFTC to align them with various sectors of the financial and cryptocurrency industries. In the early stages of his career, Michael Selig served as a partner in the asset management practice at Willkie Farr & Gallagher.

ChainCatcher news, according to Jinshi reports, Trump has chosen Michael Selig to serve as the chairman of the Commodity Futures Trading Commission (CFTC). Selig is currently the chief legal advisor for the SEC's cryptocurrency working group and has previously served as an assistant to SEC Chairman Paul Atkins. Selig's nomination will be Trump's second attempt to fill the CFTC chairman position, and the influence of this role is expected to expand under the pending legislation regarding the structure of the cryptocurrency market.

ChainCatcher news, according to Crypto in America, the White House is about to announce Mike Selig as the nominee for chairman of the Commodity Futures Trading Commission (CFTC).Selig is currently the chief legal advisor of the SEC's cryptocurrency working group and is considered the ideal candidate to coordinate the regulation between the SEC and CFTC.