US EditionSenate Agriculture plans Thursday vote on CFTC nominee
Michael Selig’s nomination advances as lawmakers debate granting the CFTC authority over spot crypto markets amid a 20% staffing reduction, officials said.
- On Wednesday, the Senate Agriculture Committee signaled Michael Selig's nomination would move quickly and scheduled a vote for Thursday to advance him to lead the CFTC.
- Earlier this month, John Boozman, Chairman of the Senate Agriculture Committee, and Cory Booker, Commodities, Derivatives, Risk Management and Trade Subcommittee ranking member, D-N.J., released a Nov. 10 discussion draft proposing to grant the Commodity Futures Trading Commission jurisdiction over the spot digital commodity market.
- Selig told senators that when discussing decentralized finance , lawmakers need clear market-structure rules, consumer protections and certainty to keep entrepreneurs in the U.S., urging swift implementation once legislation passes.
- If confirmed, Michael Selig would replace Acting CFTC Chairman Caroline Pham amid months of operating without a full complement and with a 20% reduction in CFTC staff recently.
- With Congress yet to finalize fiscal 2026 appropriations, the discussion draft would authorize $150 million for interim oversight while the White House requested $410 million for the CFTC.
15 Articles
15 Articles
Senate Agriculture plans Thursday vote on CFTC nominee
The Senate Agriculture Committee indicated Wednesday that Michael Selig, the new nominee to be the chairman of the Commodity Futures Trading Commission, would advance quickly as the panel eyes granting the CFTC authority over the cryptocurrency market. The panel scheduled a vote on Selig for Thursday. He would replace CFTC acting Chairman Caroline Pham. Chairman John Boozman, R-Ark., turned his attention at the top of Selig’s confirmation hear…
Prospective CFTC chair addresses DeFi regulation at nomination hearing
Michael Selig, who serves as chief counsel for the crypto task force at the US Securities and Exchange Commission, faced questions from lawmakers on the Senate Agriculture Committee for his nomination to be the next chair of the Commodity Futures Trading Commission.On Wednesday, Selig appeared before the committee and addressed questions and concerns from lawmakers on both sides of the aisle regarding his potential conflicts of interest, policy …
Senate Holds Confirmation Hearing for Mike Selig as CFTC Chair
The United States Senate has formally opened confirmation proceedings for Mike Selig, President Trump’s nominee to lead the Commodity Futures Trading Commission (CFTC), marking a crucial step in shaping the regulatory landscape for derivatives, commodities and digital assets. The nomination hearing, overseen by the Senate Committee on Agriculture, Nutrition and Forestry, focused heavily on crypto market oversight, derivatives enforcement priorit…
CFTC Nominee Mike Selig Sidesteps Need for More Resources in Crypto Regulation Hearing
The post CFTC Nominee Mike Selig Sidesteps Need for More Resources in Crypto Regulation Hearing appeared on BitcoinEthereumNews.com. The CFTC may require additional resources to effectively regulate the expanding cryptocurrency market, but nominee Mike Selig declined to confirm this during his Senate confirmation hearing, citing the need for a post-confirmation assessment amid bipartisan calls for enhanced funding. Senate hearing highlights: Mik…
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