U.S. Senate Votes to Advance 'Pro-Virtual Asset' Selig Nomination for CFTC Chair

Doohyun Hwang

Summary

The U.S. Senate decided to proceed with the confirmation process for Michael Selig as CFTC chair.
It reported that Selig is noted for having served as senior adviser to the SEC virtual asset task force.
Trump's nominee Selig was tapped after the previous chair nominee fell through.

The U.S. Senate took steps to advance the confirmation of Michael Selig, President Donald Trump's nominee for chair of the Commodity Futures Trading Commission (CFTC).

On the 18th (local time), according to The Block, the Senate voted to proceed with Selig's confirmation process by 53 votes in favor and 43 against.

Selig was newly tapped after the originally nominated Brian Quintenz Andreessen Horowitz (a16z) policy chief was knocked out last October, and he previously served as senior adviser to the Securities and Exchange Commission (SEC) virtual asset task force (TF).