US Securities and Exchange Commission (SEC) official Michael Selig has been nominated by President Donald Trump to chair the Commodity Futures Trading Commission (CFTC), underscoring the administration’s intent to prioritize crypto-focused policy and leadership. The nomination, which still requires Senate confirmation, was announced after Trump withdrew his earlier pick, Brian Quintenz.
White House crypto and AI czar David Sacks confirmed the decision on Saturday via X, noting that Selig’s leadership would align with Trump’s broader goal of positioning the United States as the global “crypto capital.” The move sets the stage for the eventual departure of acting CFTC Chair Caroline Pham, who has been leading the agency amid multiple vacant seats.
Selig’s nomination comes amid a prolonged US government shutdown entering its fifth week, during which lawmakers remain deadlocked over healthcare funding. While the Senate retains the ability to advance key legislation — including digital asset market structure reforms its immediate focus is expected to be on resolving the shutdown through a continuing resolution.
Leadership transitions and industry influence
Selig’s appointment follows the September departure of CFTC Commissioner Kristin Johnson, leaving Pham as the regulator’s sole sitting member. The Senate has yet to schedule Selig’s confirmation hearing, though the White House is reportedly eager to fill key leadership roles to ensure progress on pending crypto-related bills, including the proposed CLARITY Act.
Trump’s decision to nominate Selig came after withdrawing Brian Quintenz’s candidacy, reportedly due to pressure from Gemini co-founders Cameron and Tyler Winklevoss. According to sources, the crypto billionaires pushed for a nominee more aligned with their vision of balanced enforcement and industry growth.
Former CFTC chair comments on transition challenges
Former CFTC Chair Chris Giancarlo widely known as “Crypto Dad” the ongoing leadership gap could delay regulatory implementation if not resolved soon.
It would be very difficult for the CFTC to implement the rulemaking required under the CLARITY Act without a full or even partial commission,” Giancarlo said. “The White House understands this urgency and is prioritizing appointments to restore the agency’s operational capacity.
Reports also suggest that Trump may soon announce additional CFTC nominations, including Nathan Anonick from the Senate Agriculture Committee and Paul Balzano from the House Agriculture Committee.