CFTC chair nominee Mike Selig to face Senate hearing next week

JH Kim

Summary

The U.S. Senate Committee on Agriculture, Nutrition, and Forestry said it is scheduled to hold a confirmation hearing for Mike Selig, the CFTC chair nominee.
Mike Selig is highly regarded for his expertise in blockchain and digital asset regulation.
The hearing will discuss major agenda items such as restructuring the digital asset market architecture, regulation of decentralized finance (DeFi), and the scope of derivatives oversight.

The U.S. Senate Committee on Agriculture, Nutrition, and Forestry is scheduled to hold a confirmation hearing next Wednesday (local time) for Mike Selig, the nominee for chair of the Commodity Futures Trading Commission (CFTC).

On the 11th (local time), Eleanor Terrett, host of Crypto in America, said on X (formerly Twitter), "With a government shutdown expected to be lifted, the confirmation process will resume."

Mike Selig is a former senior legal advisor to the U.S. Securities and Exchange Commission's (SEC) virtual assets (cryptocurrency) task force and is highly regarded for his expertise in blockchain and digital asset regulation.

He previously emphasized the need to establish a clear and consistent regulatory framework for virtual assets, saying, "The CFTC must strengthen consumer protection while not hindering market innovation."

The hearing is expected to discuss major agenda items such as restructuring the digital asset market architecture, regulation of decentralized finance (DeFi), and the scope of derivatives oversight.