Mike Selig, the freshly designated Chair of the Product Futures Trading Commission, promised on Saturday to support President Donald Trump’s objective of making the U.S. the world’s “Crypto Capital.”
Crypto Regulator Nominated To Lead CFTC
In an X post, Selig stated he was honored to be chosen by Trump for the distinguished function.
” With the President’s management, a Fantastic Golden Era for America’s Financial Markets and a Wealth of New Opportunities stand before us,” stated Selig, who presently functions as the Chief Counsel of the SEC Crypto Job Force.
Selig stated he would “work relentlessly” to promote well-functioning product markets, liberty, competitors and development. He likewise voiced his dedication to Trump’s vision of making America the “Crypto Capital” of the world.
See Likewise: Ro Khanna Declares Trump ‘Improving’ Himself Through ‘Extraordinary’ Corruption, To Propose Crypto Trading Restriction On President, First Household
Trump’s Crypto and AI Czar David Sacks likewise validated the choice on X, stating Trump made an “exceptional option” by choosing Selig for the function.
Selig’s Background
Selig is among the high-ranking cryptocurrency regulators in the Trump administration, likewise acting as the Senior Consultant to SEC Chair Paul Atkins Before signing up with the company, Selig was a partner at the law practice Willkie Farr & & Gallagher.
He likewise brings experience in standard products markets from his period at the CFTC under previous Chair Chris Giancarlo
Selig’s Election After Quintenz’s Call Withdrawn
Selig’s choice comes almost a month after the Trump administration withdrew the election of Brian Quintenz to head the derivatives markets regulator, potentially due to opposition from some sectors of the cryptocurrency market.
Especially, Quintenz shared his personal messages with Tyler Winklevoss, co-founder of crypto exchange Gemini, on X, exposing their difference over the business’s continuous lawsuits with the CFTC.
Selig’s election comes at a time when the cryptocurrency market is pressing to get the marketplace structure expense– which proposes to divide cryptocurrency oversight in between the SEC and the CFTC– entered law.
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Disclaimer: This material was partly produced with the aid of Benzinga Neuro and was examined and released by Benzinga editors.
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