BlockBeats News, on December 23, according to the official announcement, Michael Selig has been sworn in as the Chairman of the U.S. Commodity Futures Trading Commission (CFTC). Michael Selig stated, "We are currently in a special period: various emerging technologies, products, and platforms are emerging one after another, the retail participation in the commodity market has reached an all-time high, and Congress is about to submit the Digital Asset Market Structure Bill to the President, which will solidify the United States' position as a global cryptocurrency hub. I am honored to accept the significant responsibility of overseeing the stability and security of the U.S. commodity derivatives market during this rapid transformation period."
Previously, Michael Selig served as the Chief Legal Advisor to the U.S. Securities and Exchange Commission (SEC) cryptocurrency working group and as a senior advisor to Chairman Paul Atkins.