Pro-crypto attorney Michael S. Selig has officially been sworn in as the 16th Chairman of the US Commodity Futures Trading Commission (CFTC), marking a major leadership shift at one of America’s most influential financial regulators.
The swearing-in took place on December 22, following Selig’s nomination by President Donald Trump on October 27 and his Senate confirmation on December 18. His appointment comes as acting chair Caroline Pham formally exits the agency, leaving Selig as the CFTC’s sole commissioner for now.
The transition signals a clear change in tone at the watchdog, particularly for the digital asset industry, which has long sought clearer regulatory direction from Washington.
Leadership Change at a Pivotal Moment
Pham, who had served as acting chair since January and as the commission’s only sitting member since August, had repeatedly stated she would step aside once a permanent chair was confirmed. Her final day at the agency coincided with Selig’s swearing-in.
During her tenure, Pham pushed for a more constructive approach to crypto oversight and worked to open dialogue with industry participants. She is now set to move into the private sector, with crypto payments firm MoonPay confirming she will be joining the company.
Selig now assumes control of the CFTC at a time of heightened retail participation in commodity markets and renewed legislative momentum around digital asset regulation.
“I’m grateful for the confidence President Trump has placed in me and for the opportunity to lead the CFTC at this pivotal time,” Selig said following his swearing-in.
A Pro-Crypto Track Record
Selig is widely viewed as favorable to the crypto sector, largely due to his recent work at the Securities and Exchange Commission. Before joining the CFTC, he served as chief counsel to the SEC’s Crypto Task Force and as a senior adviser to SEC Chairman Paul Atkins.
In that role, Selig was directly involved in shaping regulatory frameworks for digital asset securities, aligning oversight between the SEC and CFTC, and rolling back what industry leaders have criticized as “regulation by enforcement.”
“We are at a unique moment as novel technologies, products, and platforms are emerging, and Congress is poised to send digital asset market structure legislation to the President’s desk,” Selig said, adding that the goal is to cement the US as the “Crypto Capital of the World.”
His term as chairman will run through April 2029.
Industry and White House Support
The appointment has been welcomed by key figures within the administration. White House crypto czar David Sacks described Selig and SEC Chairman Atkins as a “dream team” capable of delivering long-awaited regulatory clarity for digital assets.
Selig’s background also spans the private sector. Prior to government service, he was a partner at an international law firm, advising clients across derivatives, commodities, and digital asset markets. His work included guiding firms through CFTC registration, compliance obligations, enforcement actions, and complex transactions.
That blend of regulatory and industry experience is expected to shape his approach at the commission.
“No agency is better suited to pioneer commonsense rules of the road for the new financial markets of America’s Golden Age than the CFTC,” Selig said.
With Congress edging closer to passing comprehensive digital asset legislation, Selig’s leadership could prove decisive in redefining how crypto markets are supervised in the US.
