Lawmakers clear Trump pick Michael Selig to lead the CFTC, sending it to full Senate

President Donald Trump's nominee to lead the Commodity Futures Trading Commission (CFTC), Michael Selig, advanced after the Senate Agriculture Committee voted 12 to 11 along party lines to move his nomination forward to the full Senate. Selig's potential leadership comes as lawmakers consider giving the CFTC broader authority over crypto regulation. During his confirmation hearing, Selig was questioned about the CFTC needing more funding to handle the expanded role compared to agencies like the SEC, but he deferred comment until he could assess the agency's needs as chairman. He also addressed the need for bipartisan representation on the commission, stating his commitment to fulfilling the agency's mission with a diversity of viewpoints. Selig emphasized the need for clear crypto rules that protect investors while allowing software developers and new exchanges to thrive.

(Source：The Block)