US President Donald Trump has nominated Michael Selig, a senior lawyer on the SEC's crypto task force and former CFTC counsel, to chair the Commodity Futures Trading Commission (CFTC). It is his second attempt this year to install a crypto insider atop the nation’s key derivatives watchdog.
Trump Picks Ripple Ally Selig to Lead CFTC in Crypto Power Shift
27 October 2025 - 10:51 CET
By Matt Neill
Selig’s nomination comes as Congress prepares to hand the CFTC expanded powers under the Digital Asset Market Clarity Act and GENIUS Act, which would formally classify Bitcoin and Ether as commodities and place spot crypto trading under federal supervision.
Crypto veteran
A former lawyer at Willkie Farr & Gallagher, Selig represented Ripple Labs and other digital-asset firms in high-profile SEC disputes. He often argued that token transactions should be treated as commodities rather than securities.
He also worked at both the CFTC and the SEC, earning a reputation as a pro-innovation regulator who supports integrating blockchain technology into existing market frameworks.
The nomination underscores the administration’s determination to embed digital-asset expertise inside the agencies shaping the next phase of U.S. crypto oversight.
Nomination round two
Selig’s selection follows the collapse of Brian Quintenz’s nomination in September, after opposition from Gemini co-founders Tyler and Cameron Winklevoss reportedly led the White House to withdraw its support.
Quintenz, a former CFTC commissioner and longtime crypto advocate, accused the twins of lobbying to block his confirmation amid disputes with the agency.
The reversal left the CFTC under acting chair Caroline Pham, who has led an interim “crypto sprint” while awaiting permanent leadership.
Industry reaction
Industry groups broadly welcomed Selig’s nomination, citing his market knowledge and ability to balance innovation with risk management.
If approved, he would assume control just as the CFTC readies its largest expansion of power in decades, covering everything from blockchain-based derivatives to tokenized commodities. It would mark a decisive moment for US crypto oversight.
