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- Trump names Michael Selig to chair CFTC; Selig cites crypto capital goal</p>
<p>ReutersOctober 26, 2025 at 4:06 AM</p>
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<p>Signage is seen outside of the US Commodity Futures Trading Commission (CFTC) in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly</p>
<p>(Reuters) -U.S. President Donald Trump has picked Michael Selig as the Commodity Futures Trading Commission's chair, an administration official and Selig himself said on Saturday.</p>
<p>Selig is chief counsel for the CFTC's crypto task force and has worked with Securities and Exchange Commission Chairman Paul Atkins.</p>
<p>Both Selig and David Sacks, the White House artificial intelligence and crypto czar, confirmed the selection in separate posts on X.</p>
<p>Sacks praised Selig as "deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach in order to maintain America's competitiveness in the digital asset era."</p>
<p>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."</p>
<p>The CFTC did not respond immediately to a request for comment. The choice of Selig for CFTC chair was first reported by Bloomberg News.</p>
<p>The pick comes as the digital assets industry, which had been facing regulatory pressures, takes center stage under the Trump administration with new legislation.</p>
<p>The GENIUS Act, passed earlier in the year, and the CLARITY Act - which aims to establish a regulatory framework for digital assets - have been received well by investors in the sector.</p>
<p>Trump has been vocal about his support for cryptocurrency, and had promised in his campaigns to make America the crypto capital of the world if he was elected.</p>
<p>Cryptocurrency has become a recurring theme in the Trump family's business empire, including Truth Social owner Trump Media & Technology Group; DT Marks DEFI LLC, an entity tied to the Trump family that holds nearly 38% of equity in the company that controls crypto venture World Liberty Financial; and meme coins launched by both the president and first lady Melania Trump.</p>
<p>Trump had originally named Brian Quintenz to be the CFTC chair, but his nomination was stalled following opposition by Tyler Winklevoss, co-founder of recently listed cryptocurrency exchange Gemini.</p>
<p>Quintenz, a Republican who previously was a commissioner at the agency, had accused Winklevoss of lobbying the White House to stall his nomination.</p>
<p>The CFTC is typically led by a bipartisan group of five commissioners. The president has historically nominated commissioners from both parties to serve.</p>
<p>Selig has been with the CFTC since March 2025. He was previously a partner at international law firm Willkie Farr & Gallagher.</p>
<p>(Reporting by Pritam Biswas in Bengaluru and Jasper Ward in Washington; Editing by Leslie Adler)</p>
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