Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Crypto Oversight Changes: Trump’s CFTC Decision Ignites Political Dispute

Crypto Oversight Changes: Trump’s CFTC Decision Ignites Political Dispute

Bitget-RWA2025/10/24 20:28
By:Bitget-RWA

- Trump nominates SEC crypto task force chief Michael Selig to lead CFTC, aiming to consolidate digital asset regulation under one agency. - Selig, known for bridging SEC-CFTC regulatory approaches, replaces a stalled nomination and brings legal expertise in derivatives and crypto markets. - Partisan divide persists: Republicans favor CFTC-led commodity rules for lighter oversight, while Democrats support SEC's securities framework for investor protection. - Industry praises Selig's balanced approach, but

According to coverage from

, , and , President Donald Trump has chosen Michael Selig, who currently serves as chief counsel for the Securities and Exchange Commission’s (SEC) crypto task force, to lead the Commodity Futures Trading Commission (CFTC). This decision, revealed as legislators work to clarify which agencies oversee digital assets, is seen as a calculated move to unify federal oversight of both traditional derivatives and the rapidly evolving crypto sector under one expert body, according to these reports.

Crypto Oversight Changes: Trump’s CFTC Decision Ignites Political Dispute image 0

Selig, who is a top advisor to SEC Chairman Paul Atkins, has been instrumental in bringing the SEC and CFTC into closer alignment on digital asset, swaps, and futures policy. His nomination follows Trump’s previous, unsuccessful effort to install Brian Quintenz, a16z’s global policy chief, as CFTC chair—a move that was blocked by industry resistance, the reports note. Selig’s experience includes ten years as a partner at Willkie Farr & Gallagher, where he counseled asset managers on derivatives and regulatory matters. Industry figures have commended his legal expertise and balanced perspective on fostering innovation while maintaining regulatory standards. “Mike Selig recognizes the importance of supporting innovation, but he’s also committed to finding the right legal solutions,” Amanda Tuminelli of the DeFi Education Fund told Bloomberg.

The CFTC, which regulates swaps, futures, and prediction markets, has become increasingly significant as Congress considers new laws to clarify its authority over crypto. Analysts writing for Blockworks point out that proposed legislation in both the House and Senate would broaden the CFTC’s jurisdiction over digital assets, potentially making it the primary regulator in a field long plagued by unclear rules. Policy initiatives like the Clarity Act have received in-depth examination from sources such as

. Recently, Senate Democrats convened a roundtable with industry leaders—including Coinbase’s Brian Armstrong and Ripple’s Stuart Alderoty—to discuss reforms to market structure, underscoring the partisan divides shaping crypto regulation, as reported by .

This nomination comes as political disagreements over crypto policy intensify. Trump and other Republicans support classifying most digital assets as commodities under CFTC oversight, favoring a lighter regulatory touch to encourage innovation—a stance explored by Coinotag. In contrast, Democrats want the SEC to retain broad authority over securities to better protect investors. This divide has delayed comprehensive legislation, with debates over how to categorize tokens, regulate decentralized finance (DeFi), and enforce anti-money laundering (AML) standards keeping the issue unresolved. The bipartisan Digital Asset Market Clarity Act, which aims to establish clear regulatory boundaries, remains central as lawmakers search for common ground.

If the Senate confirms Selig, it would represent a major turning point for crypto oversight. The CFTC’s enhanced powers could significantly impact exchanges and DeFi projects, which would need to meet new requirements for real-time monitoring and proof-of-reserves under the Clarity Act. Supporters claim these measures will reduce market manipulation and draw more institutional investors, while critics caution that stricter rules could hinder innovation, especially for smaller ventures.

With the CFTC poised to take a leading role in crypto regulation, Selig’s guidance will be vital as the industry faces a pivotal regulatory moment. As

hovers around $109,500 and annual stablecoin transaction volumes exceed $4 trillion, the need for clear, enforceable regulations has never been more urgent.

---

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

How a Query from an Office Supplies Specialist Transformed a $12 Billion Trucking Approach

- A non-trucking board member's question prompted Ryder System to shift focus from leasing to targeting 80-85% of companies owning their own trucks. - The strategic pivot aligns with growing demand in long-haul freight driven by e-commerce, trade agreements, and tech innovations like IoT fleet management. - Industry consolidation and sustainability trends, including electric trucks, are reshaping competition as firms expand specialized services like temperature-controlled logistics. - Ryder's experience hi

Bitget-RWA2025/11/28 12:42
How a Query from an Office Supplies Specialist Transformed a $12 Billion Trucking Approach

Ethereum News Update: Disorder or Planning? Apeing's Early Sale Breaks the Typical Meme Coin Mold

- Apeing ($APEING) emerges as a structured meme coin contender with a verified whitelist presale offering 10,000% projected gains, contrasting chaotic market norms. - Bitcoin and Ethereum show mixed recovery signals while Pepe ($PEPE) and Bonk ($BONK) dominate headlines amid growing institutional interest in meme coins. - Apeing's hybrid model combines meme virality with AI-driven utilities and audited infrastructure, drawing comparisons to Ethereum's blockchain evolution. - Risks persist due to market vol

Bitget-RWA2025/11/28 12:42

Bitcoin Updates: Major Institutions Increase Bitcoin Holdings During Price Drops While Solana ETFs Resist Market Downturn: Opportunity or Crisis?

- Institutional investors and presale participants are buying dips in Bitcoin , Solana , and BNB as market volatility creates accumulation opportunities. - Hyperscale Data (GPUS) boosted its Bitcoin treasury to $70.5M (77% of market cap), aiming to expand to $100M via dollar-cost averaging. - Solana ETFs defied broader outflows with $568M net inflows, contrasting Bitcoin's $3.7B ETF exodus and signaling shifting institutional risk appetite. - Market dynamics hinge on Fed policy, ETF stabilization, and tech

Bitget-RWA2025/11/28 12:42
Bitcoin Updates: Major Institutions Increase Bitcoin Holdings During Price Drops While Solana ETFs Resist Market Downturn: Opportunity or Crisis?

Bitcoin Updates: IMF Warns of Widespread Risks Amid Growing Popularity of Tokenized Finance

- IMF highlights tokenized finance's efficiency gains but warns of systemic risks like smart contract interdependencies and liquidity vulnerabilities. - Upcoming Chainlink ETFs signal growing institutional adoption, with Grayscale and Bitwise advancing regulated exposure to $100B+ oracle network assets. - Analysts predict over 100 new crypto ETFs in six months, but XRP's 18% price drop underscores market volatility despite regulatory approvals. - IMF anticipates regulatory frameworks to address cross-platf

Bitget-RWA2025/11/28 12:20
Bitcoin Updates: IMF Warns of Widespread Risks Amid Growing Popularity of Tokenized Finance