Overview
- President Donald Trump chose Michael Selig, chief counsel to the SEC’s crypto task force, to be CFTC chair, pending Senate confirmation.
- The selection follows the stalled bid for Brian Quintenz, which drew public opposition from Gemini co-founder Tyler Winklevoss.
- Selig serves as an aide to SEC Chairman Paul Atkins on cross-agency crypto oversight and previously practiced asset management law at Willkie Farr & Gallagher.
- The decision lands as the CLARITY Act advances, with a 294–137 House vote this summer and Coinbase CEO Brian Armstrong saying the industry is close to Senate passage.
- The White House’s full pardon of Binance founder Changpeng Zhao signals a friendlier posture toward the crypto industry.