The U.S. Senate officially confirmed Michael Selig as the 15th Chairman of the Commodity Futures Trading Commission (CFTC) on Thursday, ending nearly a year of interim leadership at the nation’s primary derivatives regulator. The 53-43 vote on December 18 paves the way for Selig, a seasoned regulatory attorney with deep roots in both traditional and digital asset markets, to take the helm at a critical juncture for U.S. financial policy.
Selig is a familiar face within the halls of the CFTC. He began his career at the agency in 2014 as a law clerk to then-Commissioner Christopher Giancarlo. Following his initial tenure, Selig transitioned to private practice, where he spent years advising global exchanges, trading firms, and crypto developers on navigating the complex web of U.S. compliance laws.
Most recently, Selig served as Chief Counsel to the Securities and Exchange Commission’s (SEC) Crypto Task Force. In that role, he acted as a senior advisor to SEC Chairman Paul Atkins, placing him at the epicenter of inter-agency efforts to harmonize oversight of the digital asset sector.
Selig’s arrival marks the conclusion of Acting Chair Caroline Pham’s leadership. Pham, who stepped in as interim head in January 2025, navigated the agency through a period of extreme staffing shortages, at times serving as the CFTC’s only Senate-confirmed commissioner.
While Selig prepares to be sworn in, Pham has already confirmed her next move: joining the crypto payments firm MoonPay as Chief Legal Officer.
During his confirmation hearings, Selig signaled a departure from aggressive “regulation by enforcement.” He advocated for a “lighter regulatory touch,” famously stating he favors the “minimum effective dose of regulation” to ensure market integrity without driving innovation offshore.
Selig’s outlined priorities include:
Targeted Enforcement: Shifting focus away from minor technical or paperwork violations and toward cases involving actual fraud, manipulation, and retail harm.
Market Transparency: Providing firms with clearer guidelines and more time during investigative proceedings.
Onshoring Crypto: Continuing the agency’s recent pilot programs for tokenized collateral and listed spot crypto products to encourage domestic growth.
Selig takes office as Congress actively debates legislation that could dramatically expand the CFTC’s jurisdiction over spot crypto commodity markets.