"President Donald Trump has selected Michael Selig, chief counsel for the Securities and Exchange Commission's crypto task force, to chair the Commodity Futures Trading Commission (CFTC). Selig's nomination, first reported by Bloomberg, marks Trump's second attempt to fill the CFTC's top post, following the stalled nomination of Brian Quintenz, a16z crypto's global policy chief, amid opposition from Gemini co-founder Tyler Winklevoss. Selig, who serves as an aide to SEC Chairman Paul Atkins, has been instrumental in coordinating regulatory approaches between the SEC and CFTC on financial and crypto market oversight. The CFTC, which regulates futures, swaps, and prediction markets, is gaining greater prominence as Congress considers new crypto market structure legislation. Before joining the SEC, he was a partner at Willkie Farr & Gallagher, specializing in asset management. Selig's appointment will require Senate confirmation."
"President Donald Trump also recently granted a full pardon to Binance founder Changpeng Zhao, calling his prosecution part of the prior administration's "war on cryptocurrency." The move, confirmed by the White House, clears Zhao's record and echoes a major shift in the government's approach to the crypto industry. Selig's appointment comes as momentum behind U.S. crypto legislation accelerated this week as Coinbase CEO Brian Armstrong said the industry was "90%" of the way toward securing passage of the Digital Asset Market Clarity Act, or CLARITY Act. Despite a partial government shutdown, lawmakers from both parties reportedly made major progress on the long-awaited market structure bill."
Michael Selig, chief counsel for the SEC's crypto task force and former Willkie Farr & Gallagher partner, has been selected to chair the CFTC and will require Senate confirmation. Selig coordinated regulatory approaches between the SEC and CFTC on financial and crypto market oversight. The CFTC regulates futures, swaps, and prediction markets and is gaining prominence as Congress considers new crypto market structure legislation. President Trump recently granted a full pardon to Binance founder Changpeng Zhao, calling the prosecution part of the prior administration's "war on cryptocurrency." Momentum on U.S. crypto legislation accelerated, with Coinbase CEO Brian Armstrong saying the industry is "90%" toward passage of the CLARITY Act and bipartisan lawmakers reportedly making progress despite a partial shutdown.
Read at Bitcoin Magazine
Unable to calculate read time
Collection
[
|
...
]