365Crypto
Trump’s next crypto move
U.S. President Donald Trump is reportedly preparing to nominate Michael Selig as the next chair of the Commodity Futures Trading Commission (CFTC). The move comes after Trump withdrew the earlier nomination of Brian Quintenz, whose candidacy ran into controversy last month.
Who is Michael Selig?
Selig currently serves as chief counsel of the SEC’s crypto task force and senior adviser to SEC Chair Paul Atkins. Known for his crypto-positive stance, Selig is seen by many in the digital asset community as a breath of fresh air in Washington’s regulatory circles. Analysts say his appointment could fast-track clearer crypto policies across U.S. markets.
The backstory behind the change
Quintenz, who once advised Gemini’s founders Tyler and Cameron Winklevoss, faced pushback that delayed his confirmation. Following the withdrawal, Trump began exploring a new path for digital asset oversight — one that gives the CFTC more authority over spot crypto markets.
(Spot market: where cryptocurrencies are traded for immediate delivery, unlike futures or derivatives.)
SEC and CFTC: Partners or rivals?
Under Trump’s Working Group on Digital Assets, both the SEC and CFTC are expected to share regulatory power. The SEC will continue overseeing securities such as tokenized stocks and bonds, while the CFTC handles cryptocurrencies viewed as commodities. In September, the agencies issued a joint statement to “harmonize” crypto regulation — a sign that cooperation, not competition, might define the next era of U.S. crypto law.
(Commodities: assets like gold or Bitcoin that can be traded on open markets.)
