Selig’s CFTC Nomination Advances, Moving Toward Final Vote
Trump's CFTC Nominee, Mike Selig, Surmounts Obstacle En Route to Confirmation Vote
Following his confirmation hearing, the Senate Agriculture Committee promptly voted to move Mike Selig forward to the full Senate for a conclusive vote.
By Jesse Hamilton|Edited by Nikhilesh De Nov 20, 2025, 7:18 p.m.
A mere day after Mike Selig's confirmation hearing regarding his potential appointment as President Donald Trump's future chairman of the U.S. Commodity Futures Trading Commission, the Senate Agriculture Committee progressed his candidacy towards a concluding vote by the entire Senate, thus bringing him substantially closer to becoming a key regulator within the crypto space.
Selig, the nominee, a high-ranking official engaged in crypto strategy at the Securities and Exchange Commission, must await the final confirmation vote prior to being officially appointed to helm the U.S. commodities regulatory organization. Assuming this position, Selig would likely spearhead U.S. monitoring of a significant portion of the digital assets domain, especially as Congress persists in its efforts to enact legislation that will augment the agency's jurisdiction.
"This represents a pivotal juncture for the CFTC as Congress deliberates the expansion of the agency’s scope," stated committee Chairman John Boozman, an Arkansas Republican. "Resolute leadership is paramount for the application of novel regulations and responsibilities. Michael Selig possesses the requisite attributes to attain equilibrium in this regard."
Selig was, in fact, Trump's secondary selection to oversee the agency following his withdrawal of the nomination of former CFTC Commissioner Brian Quintenz, who faced open criticism from a prominent crypto industry figure with close ties to the president: Gemini CEO Tyler Winklevoss. Nonetheless, Quintenz did not progress to this terminal phase of the selection procedure.
Serving as legal counsel at the SEC, Selig has been deeply immersed in the endeavors associated with the agency's Project Crypto, which is designed to formulate favorable policies intended to foster the crypto sector. During his confirmation hearing, he frequently addressed the subject of digital assets, asserting that establishing suitable regulations would constitute a "critical undertaking" at the CFTC.
"This development bodes well for both the sector and the U.S. regulatory framework, not merely in terms of entrusting a digital asset authority to guide initiatives at the CFTC across multiple dimensions but also, more precisely, in terms of informing continuous legislative debates concerning market structure," commented Digital Chamber CEO Cody Carbone, in a public statement.
The CFTC's own "crypto sprint," which was initiated by Acting Chairman Caroline Pham, has been unfolding concurrently with the SEC's crypto initiatives. Pham has championed a multitude of policies that would ultimately fall under Selig's authority, contingent upon his confirmation.
