Trump set to nominate Michael Selig as next CFTC chairman, Bloomberg reports

US President Donald Trump is set to nominate Michael Selig as the next chairman of the Commodity Futures Trading Commission (CFTC), according to a Bloomberg report citing an unnamed administration official.

The move follows Trump’s decision to withdraw the previous nomination of Brian Quintenz, whose candidacy faced increasing political and industry pressure.

Pro-Crypto SEC Attorney Michael Selig Seen as Positive Pick for CFTC Chairman

Selig currently serves as chief legal counsel to the SEC’s Crypto Task Force and as senior advisor to SEC Chairman Paul Atkins.

Known for his pragmatic approach to digital assets, Selig has been described by analysts as “pro-crypto,” with many in the industry welcoming the potential appointment as a positive signal for market innovation and regulatory clarity.

The CFTC nomination process stalled in September after Quintenz reportedly faced opposition from several crypto industry figures, including Tyler and Cameron Winklevoss, co-founders of the Gemini exchange.

Quintenz has since confirmed he will return to the private sector.

Trump’s expected nomination of Selig is part of his broader plan to expand CFTC oversight of crypto markets, a policy outlined in the White House Digital Assets Task Force report released in July.

The framework proposes that the CFTC regulate crypto spot markets and classify most cryptocurrencies as commodities, while the SEC retains jurisdiction over security tokens such as bonds and tokenized stocks.

In September, the SEC and CFTC issued a joint statement pledging to “harmonize” regulatory efforts, a step that lawyers and industry leaders hailed as crucial to compliance consistency.

The CFTC also launched a “crypto sprint” initiative in August to accelerate the implementation of digital asset policies.

Despite rumors that the agencies could merge into a single regulator, Atkins dismissed such speculation, clarifying that only the U.S. president or Congress has the authority to initiate such a merger.

If confirmed, Selig’s appointment could mark a crucial shift toward clearer crypto regulation, potentially solidifying the CFTC’s role at the center of the evolving U.S. digital assets framework.

CFTC’s Caroline Pham declares end to regulatory ‘turf war’ with SEC

In September, CFTC Commissioner Caroline Pham declared an official end to the long-running “turf war” between the CFTC and the SEC over oversight of cryptocurrencies and financial markets.

Speaking at a joint SEC-CFTC roundtable on Monday, Pham described the collaboration as a “new day,” marking a historic shift toward unified regulatory efforts.

The event, held on September 29, brought together key industry figures including Shayne Coplan of Polymarket, Arjun Sethi, co-CEO of Kraken, and Tarek Mansour, co-founder of Kalshi, who discussed the next phase of regulatory harmonization between the two agencies.

Pham stressed the need for cooperation to improve market efficiency and innovation.

“Our financial markets fuel American growth,” Pham said, adding that regulators must work together to eliminate frictions that hinder economic potential.

“By working together, we can deliver real value to our markets and the American people.”

The post Trump Set to Name Michael Selig as Next CFTC Chairman: Bloomberg appeared first on Cryptonews.

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