Michael Selig Takes Over CFTC as Caroline Pham Departs
Mike Selig has been sworn in as the 16th chairman of the US Commodity Futures Trading Commission (CFTC), following the departure of acting chair Caroline Pham. Selig, nominated by President Donald Trump and confirmed by the Senate, will serve until April 2029. He is known for his pro-crypto stance and previous work as chief counsel for the SEC’s Crypto Task Force. Selig has pledged to support innovative technologies like crypto and blockchain, emphasizing regulatory clarity rather than enforcement-driven approaches. Pham, who had been the CFTC’s sole commissioner and acting chair since January, left the agency to join crypto fintech firm MoonPay. She highlighted the agency's renewed focus on responsible innovation and fair competition during her tenure and expressed confidence in Selig’s leadership. Selig’s appointment comes as Congress is considering digital asset market structure legislation and public participation in commodity markets reaches record levels.
