Trump nominates Michael Selig as new CFTC chair

JH Kim

Summary

U.S. President Donald Trump announced that he nominated Michael Selig as the new CFTC chair.
He emphasized the need to establish a clear regulatory framework to respond to the rapid expansion of virtual assets and the digital asset market.
Michael Selig is an expert in digital asset regulation and has presented consistency in market oversight and the strengthening of investor protection as major objectives.

U.S. President Donald Trump has nominated Michael Selig(Michael Selig) as the new chair of the Commodity Futures Trading Commission (CFTC) to respond to the growth of the virtual asset (cryptocurrency) market.

On the 24th (local time), according to virtual asset-focused media Bitcoin Magazine, President Trump said, "Virtual assets and the digital asset market are rapidly expanding," and added, "new leadership must establish a clear regulatory framework."

Michael Selig is a legal expert with long experience in the field of digital asset regulation, and has served on the CFTC's Innovation Advisory Committee and the SEC's digital asset policy consultative body. He has presented consistency in market oversight and strengthening investor protection as major objectives.