U.S. President Donald Trump has appointed Michael Selig as the new chairman of the Commodity Futures Trading Commission (CFTC), signaling a strong commitment to advancing cryptocurrency regulation and innovation in the United States. Selig, currently the CFTC’s chief counsel for its crypto task force, confirmed his appointment on X, alongside White House artificial intelligence and crypto czar David Sacks.
Selig, who previously worked with Securities and Exchange Commission Chairman Paul Atkins, expressed his dedication to “facilitating well-functioning commodity markets, promoting freedom, competition, and innovation,” while helping the president achieve his goal of making the U.S. the global “Crypto Capital of the World.”
Sacks praised Selig as “deeply knowledgeable about financial markets” and “passionate about modernizing regulation to ensure America’s competitiveness in the digital asset era.” The CFTC has yet to issue an official statement on the appointment, which was first reported by Bloomberg News.
The move comes amid renewed efforts by the Trump administration to position the U.S. as a leader in blockchain and cryptocurrency innovation. Earlier this year, Congress passed the GENIUS Act and the CLARITY Act—two landmark pieces of legislation designed to establish a clear regulatory framework for digital assets, boosting investor confidence in the sector.
Cryptocurrency has become an integral part of the Trump family’s business ventures, including Truth Social parent Trump Media & Technology Group and DT Marks DEFI LLC, which holds a significant stake in World Liberty Financial. Both Donald and Melania Trump have also launched their own meme coins.
Selig, who joined the CFTC in March 2025 after serving as a partner at Willkie Farr & Gallagher, replaces Brian Quintenz, whose earlier nomination was blocked following opposition from Gemini co-founder Tyler Winklevoss.