Who is Michael Selig? Trump nominates pro-crypto lawyer to head CFTC

President Donald Trump has nominated Michael Selig, a lawyer with experience at the CFTC and SEC, to become the chairperson of the US Commodity Futures Trading Commission (CFTC), currently led by Acting Chair Caroline Pham. Selig is known for his strongly pro-crypto stance, aiming to make the US the "Crypto Capital of the World." His nomination follows the withdrawal of Brian Quintenz's nomination due to concerns about his level of support for crypto. Selig views digital assets like XRP as commodities rather than securities, a perspective crucial as Congress considers legislation like the Responsible Financial Innovation Act (which evolved from the CLARITY Act) that would reclassify many cryptocurrencies under the CFTC's jurisdiction. Progress on this legislation and other agency alignment efforts between the SEC and CFTC is currently stalled due to ongoing government shutdown concerns and a lack of full commission staffing.

(Source：Cointelegraph)