The appointment could pave the way for a more crypto-friendly regulatory environment
The US Senate has confirmed crypto-focused attorney Mike Selig as the new chair of the Commodity Futures Trading Commission, placing a known digital asset supporter at the head of a key market regulator. The vote passed 53–43 as part of a larger group of nearly 100 Trump administration nominees approved in one package.
Confirmed, 53-43: Confirmation of the en bloc nominations provided for under the provisions of S.Res.532.
— Senate Cloakroom (@SenateCloakroom) December 19, 2025
Selig brings prior experience from both the CFTC and the Securities and Exchange Commission, giving him a background across multiple financial watchdogs. After being nominated in October, he said digital assets would be a central focus of his leadership. He replaces acting chair Caroline Pham, who is expected to leave the agency following his confirmation.
At the same time, the Senate elevated Travis Hill to chair the Federal Deposit Insurance Corporation. Hill had already been serving in the role on an interim basis and has spoken publicly about concerns that crypto-linked firms were being denied banking access. His term is set to run through 2030.
Selig’s appointment comes as lawmakers consider expanding the CFTC’s role in overseeing crypto markets. A bipartisan Senate bill introduced last fall would give the agency more direct authority over digital asset trading, shifting some responsibility away from the SEC. Until new commissioners are appointed, Selig will serve as the lone member of the typically five-person commission, following several resignations earlier this year.
Industry reaction has been upbeat. Coinbase policy chief Faryar Shirzad praised Selig’s mix of regulatory and crypto experience, while Digital Chamber CEO Cody Carbone said his confirmation signals progress on clearer rules. With new leadership at both the CFTC and FDIC, the crypto sector appears to be entering a more predictable regulatory phase.
