Trump Picks Mike Selig to Chair the CFTC, Signaling Coordinated Crypto Push
Jordan Blake
October 23, 2025
“This nomination signals the administration wants a single playbook on digital asset market structure,” said Sheila Warren of the Crypto Council for Innovation.
Who Is Mike Selig
Selig currently serves as chief counsel to the SEC’s Crypto Task Force, advising on enforcement priorities and policy coordination. Before joining the government, he worked in private practice on derivatives and digital asset compliance. His résumé, blending regulatory experience and industry familiarity, has made him a go-to source for lawmakers grappling with crypto’s legal gray areas.
During his SEC tenure, Selig championed clearer guardrails for token listings and advocated for sandbox-style pilots, earning praise from innovation-friendly lawmakers and criticism from skeptics who viewed the approach as too lenient.
What the CFTC Role Entails
As CFTC chair, Selig would oversee derivatives markets from futures to swaps, with growing oversight of spot digital commodities. Analysts expect him to prioritize modernization of market surveillance systems, especially for crypto-linked derivatives that have ballooned in volume alongside spot ETFs.
The chair also sets the enforcement agenda. Market participants anticipate a focus on illicit derivatives platforms and clearer guidance on how decentralized exchanges fit within the agency’s remit.
Coordination With the SEC
Selig’s deep ties to the SEC could ease cross-agency coordination on issues like market manipulation, custody, and stablecoin oversight. Observers see a path toward joint rulemakings that delineate responsibilities between securities and commodities regulators, reducing the patchwork approach that has frustrated exchanges.
One priority will be establishing a shared framework for monitoring spot bitcoin markets underpinning futures contracts. Another is working with the SEC on dual-registered broker models that can handle both securities tokens and commodities.
Priorities for Crypto Markets
Policy insiders expect Selig to push for clarity on prediction markets, tokenized commodities, and the role of decentralized finance in derivatives clearing. Industry groups also hope he will revisit no-action relief for innovation sandboxes, balancing consumer protection with experimentation.
Critics, however, warn that an aggressive pro-innovation stance could stretch agency resources thin. Selig will need to demonstrate that new rules can be enforced without sacrificing investor safeguards.
Confirmation Timeline
The nomination now heads to the Senate Agriculture Committee, which oversees the CFTC. Hearings could begin in November depending on the congressional calendar. Market participants will scrutinize Selig’s testimony for clues about how quickly he plans to act on unresolved enforcement cases and pending rulemakings.
If confirmed, Selig is expected to assemble a leadership team with deep crypto market experience, potentially including deputies from both the SEC and industry. His first 100 days would likely set the tone for digital asset policy heading into 2026.