Michael Selig, a senior official at the Securities and Exchange Commission (SEC), will appear before the Senate Agriculture Committee next week for a key confirmation hearing as President Donald Trump’s nominee to lead the Commodity Futures Trading Commission (CFTC). The hearing is scheduled for Wednesday, November 19, at 3:00 p.m.
Selig currently serves as chief counsel for the SEC’s Crypto Task Force and is regarded as a pro-crypto voice in Washington. His nomination follows the withdrawal of the administration’s previous pick, Brian Quintenz, during a period of leadership instability at the CFTC.
The agency has faced a leadership vacuum since January 2025, when former Chair Rostin Behnam resigned. Behnam led major enforcement actions, including the $4.3 billion Binance settlement, but warned that large parts of the crypto market remained unregulated. Since then, commissioners Caroline Pham and Kristin Johnson have left, leaving Pham as the sole active member of the five-person panel.
Quintenz’s earlier nomination collapsed after reports that Gemini co-founders Cameron and Tyler Winklevoss lobbied against him over potential enforcement involving their firm. Quintenz withdrew in September and returned to the private sector.
Selig’s nomination could continue and expand CFTC oversight of digital assets. The White House Working Group on Digital Assets has proposed a framework giving the CFTC primary authority over spot crypto markets, while the SEC would continue regulating tokenized securities.
A graduate of George Washington University Law School, Selig has worked in both public service and private practice. He has advised blockchain clients at major law firms and led the SEC’s crypto enforcement advisory team. He has argued that tokens such as XRP should be treated as commodities rather than securities.
His confirmation comes as Congress advances legislation to define the CFTC’s crypto powers. The CLARITY Act, passed by the House, proposes shared oversight between the CFTC and SEC. A Senate bill led by John Boozman and Cory Booker would grant the CFTC full authority over digital commodities such as Bitcoin and Ether.
If confirmed, Selig would play a central role in shaping U.S. crypto policy and could help harmonize SEC and CFTC oversight, positioning the U.S. as a global leader in digital asset regulation.
