Michael Selig was sworn in Sunday because the sixteenth chairman of the Commodity Futures Buying and selling Fee, taking management of the derivatives regulator as performing chair Caroline Pham departed after almost 4 years on the company.
Pham’s exit concludes a tenure marked by aggressive pro-crypto initiatives and regulatory modernization efforts that reshaped the CFTC’s method to digital asset oversight.
Selig, confirmed by the Senate on December 18, arrives on the CFTC after serving as chief counsel of the Securities and Alternate Fee’s Crypto Job Drive and senior advisor to SEC Chairman Paul Atkins.
His appointment positions him to guide the company by means of what he described as “a novel second” of technological transformation and potential congressional motion on digital asset laws.
Pham’s Digital Asset Legacy Reshapes CFTC Operations
Pham’s last 12 months as performing chair delivered a number of regulatory breakthroughs for crypto markets.
She launched the CFTC’s Crypto Dash in January, implementing suggestions from the President’s Working Group on Digital Asset Markets and attaining milestones, together with spot crypto buying and selling on CFTC-registered futures exchanges and a digital asset markets pilot program that permits Bitcoin, Ether, and USDC as collateral.
“It has been the distinction of a lifetime to guide the CFTC throughout such a historic second for market construction and innovation,” Pham mentioned in her departure assertion.
“I’m extremely happy with the CFTC and all its devoted employees for his or her exhausting work and dedication this 12 months to ship on our pledge to get again to fundamentals and common order.“
Her modernization drive prolonged past crypto coverage. In accordance with CFTC, the company deployed its first automated market surveillance system, saving almost $50 million in annualized prices, whereas restructuring operations to maximise effectivity.
Regulatory aid measures unlocked tens of billions in capital for market contributors and launched pilot applications focusing on power market liquidity.
Most just lately, Pham additionally granted no-action aid to 4 prediction market operators, Polymarket US, LedgerX, PredictIt, and Gemini Titan, easing enforcement strain whereas requiring full collateralization and transaction transparency.
The transfer got here throughout a surge in prediction market exercise, with giants like Coinbase and Robinhood already getting ready to enter the market.
Selig Pledges Innovation Focus as Company Expands Oversight
Selig positioned his chairmanship as the beginning of a brand new chapter for the CFTC, emphasizing the company’s function in establishing regulatory frameworks for rising applied sciences and merchandise.
“At this time begins a brand new chapter for the CFTC,” Selig mentioned following his swearing-in.
“We’re at a novel second as a variety of novel applied sciences, merchandise, and platforms are rising, retail participation within the commodity markets is at an all-time excessive, and Congress is poised to ship digital asset market construction laws to the President’s desk.“
I’m honored to be confirmed because the sixteenth Chairman of the @CFTC.
I wish to once more categorical my gratitude to President Donald J. Trump @POTUS for putting his belief and confidence in me to guide the company throughout this historic time. I additionally wish to thank @SenateAgGOP and the U.S. Senate…— Mike Selig (@MichaelSelig) December 22, 2025
His non-public sector background consists of partnership at a world regulation agency targeted on derivatives and securities issues, representing business finish customers, futures fee retailers, commodity buying and selling advisors, swap sellers, and digital asset corporations.
That have navigating CFTC compliance necessities positions him to deal with regulatory challenges going through platforms looking for clear steerage on registration functions, enforcement issues, and complicated transactions.
Selig’s SEC function concerned creating regulatory frameworks for digital asset securities markets and harmonizing oversight between the SEC and the CFTC.
He contributed to the President’s Working Group report on “Strengthening American Management in Digital Monetary Know-how,” signaling continuity with Pham’s digital asset agenda.
“Underneath my management, the CFTC will conquer these nice frontiers and make sure that the improvements of tomorrow are Made in America,” Selig mentioned, pledging to supervise “the soundness and safety of America’s commodity derivatives markets throughout this era of speedy transformation.“
Pham Joins MoonPay
Pham is becoming a member of MoonPay as chief authorized officer and chief administrative officer, heading authorized and coverage capabilities because the funds platform expands its enterprise stablecoin enterprise.
Her departure follows former CFTC commissioner Summer time Mersinger’s transfer to the Blockchain Affiliation and Bo Hines becoming a member of Tether after serving as White Home Crypto Council govt director.
I’m thrilled to welcome @MichaelSelig because the sixteenth Chairman of the @CFTC. His pragmatic, frequent sense method will make sure the CFTC strikes the appropriate steadiness of innovation and market integrity. It has been the distinction of a lifetime to guide the CFTC throughout such a historic second for… pic.twitter.com/Gmprmxrgd6
— Caroline D. Pham (@CarolineDPham) December 22, 2025
“I’m thrilled to welcome Michael Selig because the sixteenth Chairman of the CFTC,” Pham wrote on X. “His pragmatic, frequent sense method will make sure the CFTC strikes the appropriate steadiness of innovation and market integrity.“
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