Donald Trump is reportedly planning to nominate Michael Selig, currently chief counsel for the Securities and Exchange Commission's (SEC) crypto task force, as the next chair of the Commodity Futures Trading Commission (CFTC). This decision, first reported by Bloomberg, signals a potential shift in the regulatory landscape for digital assets in the United States.

Selig's nomination follows a previous attempt by Trump to appoint Brian Quintenz, a16z crypto's global policy chief, to the position. However, Quintenz's nomination stalled due to opposition from Gemini co-founder Tyler Winklevoss.

Michael Selig has been working closely with SEC Chairman Paul Atkins, focusing on coordinating regulatory approaches between the SEC and CFTC regarding financial and crypto market oversight. His experience includes advising asset managers on derivatives and financial regulation as a partner at Willkie Farr & Gallagher prior to joining the SEC. He has been with the CFTC since March 2025.

The CFTC, which regulates futures, swaps, and prediction markets, is expected to play an increasingly important role in the oversight of digital assets. Congress is currently considering new crypto market structure legislation that could grant the CFTC broader authority over the industry.

Trump's selection of Selig is seen by some as a move to unify federal oversight of digital assets. It also comes amid growing support for cryptocurrency within the Trump administration. Recently, Trump granted a full pardon to Binance founder Changpeng Zhao, calling his prosecution part of the prior administration's “war on cryptocurrency”. This action, confirmed by the White House, is perceived as a clear indication of a changing government approach to the crypto industry.

The nomination also coincides with perceived momentum behind U.S. crypto legislation. Coinbase CEO Brian Armstrong recently stated that the industry is "90%" of the way toward securing passage of the Digital Asset Market Clarity Act, or CLARITY Act.

To assume the role of CFTC chair, Selig will require confirmation by the Senate. Historically, presidents have nominated commissioners from both parties to serve on the CFTC, which is typically led by a bipartisan group of five commissioners.

News of Selig's potential nomination has been met with positive reactions from some in the crypto industry. Jake Chervinsky, chief legal officer at the Variant Fund, praised Selig as a "brilliant lawyer and proven leader perfect for this role". Amanda Tuminelli, executive director of DeFi Education Fund, noted Selig's understanding of both the technology and the need for innovation, as well as his commitment to finding the right legal answers.