Mike Selig, the new Chairman of the Commodity Futures Trading Commission (CFTC), has issued a statement on this recently approved confirmation.
The full Senate voted 53 to 43 to approve the nomination. No Democrats voted to support the nomination.
Selig, well known for his support of digital asset innovation, thanked President Trump, Senate leadership, former Acting Chair Caroline Pham, Crypto Czar David Sacks, and others for their support.
Selig said:
“Today begins a new chapter for the CFTC. We are at a unique moment as a wide range of novel technologies, products, and platforms are emerging, retail participation in the commodity markets is at an all-time high, and Congress is poised to send digital asset market structure legislation that will cement the U.S. as the Crypto Capital of the World to the President’s desk. I welcome the vital responsibility to oversee the stability and security of America’s commodity derivatives markets during this period of rapid transformation. No agency is better suited to pioneer common-sense rules of the road for the new financial markets of America’s Golden Age than the Commodity Futures Trading Commission. Under my leadership, the CFTC will conquer these great frontiers and ensure that the innovations of tomorrow are Made in America. Onwards.”
During the Biden Administration, the federal government actively sought to destroy digital asset innovation. With the election of President Trump, this all changed. While updating rules and regulations will take a bit of time, policymakers are working diligently to embrace the inevitable digital asset future
