White House Officially Taps Mike Selig As CFTC Chair – Inside the Shake-Up After Quintenz
U.S. President Donald Trump has tapped the Securities and Exchange Commission’s (SEC) Mike Selig to guide the Commodity Futures Trading Commission, the latter confirmed on Saturday.
Mike Selig Speaks Amid CFTC Chair News
Selig, who most just lately led the SEC’s Crypto Task Force as chief counsel, took to X on October 25 to say he was “honored” to spearhead the CFTC.
“With the President’s management, a Great Golden Age for America’s Financial Markets and a Wealth of New Opportunities stand earlier than us,” Selig mentioned.
“I pledge to work tirelessly to facilitate Well-Functioning Commodity Markets, promote Freedom, Competition and Innovation, and assist the President make the United States the Crypto Capital of the World,” he added.
Brian Quintenz Nomination Withdrawn After Winklevoss Concerns
Selig’s nomination comes after the nomination course of for Trump’s initial pick for CFTC chair, a16z coverage head Brian Quintenz, stalled earlier this yr.
In July, experiences emerged that Gemini co-founders Cameron and Tyler allegedly voiced issues over whether or not Quintenz was aligned with the Trump administration’s plans for crypto.
In September, Quintenz shared a collection of messages between him and Tyler Winklevoss on X earlier than his nomination was rescinded later that month.
Trump, who largely campaigned with support from the blockchain sector, has obtained each reward and scrutiny for his affiliation with the digital asset trade.
Shortly earlier than his inauguration, Trump chosen Yammer founder David Sacks to function the newly established White House A.I. and Crypto Czar.
Following information of Selig’s nomination, Sacks praised him as “deeply educated about monetary markets” and “enthusiastic about modernizing our regulatory method in an effort to keep America’s competitiveness in the digital asset period.”
“On behalf of the President’s Working Group on Digital Assets, @patrickjwitt and I stay up for persevering with our work with Mike to ship on President Trump’s promise to make the U.S. the crypto capital of the planet,” he continued.
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