Trump's Pick to Run CFTC, Selig, Tells Senators Crypto a 'Critical Mission' at Agency
CFTC nominee Mike Selig affirmed that regulating crypto is a critical mission for the agency during his Senate confirmation hearing.Summary
Mike Selig, President Donald Trump's nominee to chair the Commodity Futures Trading Commission (CFTC), stated during his Senate confirmation hearing that developing a regulatory framework for crypto is a "critical mission" for the agency. He aims to create an environment where developers can thrive while ensuring investor protection and appropriate disclosures. Selig, currently a top official on the SEC's Crypto Task Force, expressed caution regarding applying traditional financial regulation broadly to on-chain applications like those in decentralized finance (DeFi), suggesting a feature-based analysis is better. He also emphasized that bitcoin mining infrastructure is "vitally important" and should be protected within the U.S. If confirmed, Selig would become the sole commissioner on the five-member bipartisan commission, which could streamline crypto policy decisions but potentially expose agency actions to legal challenges.
(Source：CoinDesk)