David Sacks: CFTC, SEC chairs are Crypto Regulation ‘Dream Team‘
The White House is reportedly prepared for digital asset regulation after Michael Selig was confirmed as chair of the Commodity Futures Trading Commission (CFTC). David Sacks stated that with Selig and SEC Chair Paul Atkins leading regulatory agencies, the US is positioned to define clear crypto regulations. Selig noted that Congress is close to finalizing a crypto market structure bill, which aims to establish the US as a global crypto leader. The legislation, known as the Responsible Financial Innovation Act in the Senate and building on the House-passed CLARITY Act, has been paused for the holiday break but is expected to see Senate Banking Committee action in January. Drafts suggest the bill would give the CFTC increased authority over digital assets, shifting some regulatory responsibility from the SEC. However, disagreements over DeFi and other issues could delay progress. Selig’s confirmation occurred by a 53–43 vote, but it is not clear when he will officially replace acting CFTC Chair Caroline Pham.
