President Donald Trump has officially nominated Mike Selig to lead the U.S. Commodity Futures Trading Commission (CFTC). Selig, who currently serves as the Chief Counsel for the SEC’s Crypto Task Force, has played a pivotal role in coordinating regulatory efforts between the SEC and CFTC, particularly concerning digital assets. His nomination shows the administration’s commitment to fostering a pro-innovation regulatory environment for cryptocurrencies.
Selig, in his X post, said he would “work tirelessly to facilitate well-functioning commodity markets, promote freedom, competition and innovation, and help the President make the United States the Crypto Capital of the World.”
I am honored to be nominated by President Trump to serve as the 16th Chairman of the U.S. Commodity Futures Trading Commission. With the President’s leadership, a Great Golden Age for America’s Financial Markets and a Wealth of New Opportunities stand before us. I pledge to work… https://t.co/cO2vLBAv0z
— Mike Selig (@MikeSeligEsq) October 25, 2025
CFTC nomination flip-flops
Selig’s nomination follows the withdrawal of Brian Quintenz‘s candidacy for the CFTC chairmanship. Quintenz, a former CFTC commissioner and vocal advocate for the crypto industry, faced opposition from industry figures, including the Winklevoss twins, co-founders of the Gemini exchange. Reports indicate that Winklevoss lobbied the White House to delay Quintenz’s nomination, leading to its eventual withdrawal.
Industry approves Selig’s name
Selig’s nomination has been met with approval from various sectors of the cryptocurrency industry. David Sacks, a prominent venture capitalist and early investor in digital assets, expressed support for Selig, highlighting his expertise and balanced approach to regulation. Sacks emphasized that Selig’s experience positions him well to navigate the complexities of digital asset regulation and to foster innovation within the industry.
Before his tenure at the SEC, Selig was a partner at the law firm Willkie Farr & Gallagher LLP, where he specialized in financial services and regulatory matters. Since joining the SEC in March 2025, Selig has been instrumental in harmonizing the regulatory approaches of the SEC and CFTC, aiming to create a cohesive framework for digital asset oversight.