Mike Selig Testifies as Trump's Nominee to Lead CFTC, Highlights Crypto Priorities
On November 19, 2025, Mike Selig testified at the Senate Agriculture Committee confirmation hearing as Donald Trump’s nominee to head the Commodity Futures Trading Commission (CFTC).
Selig emphasized cryptocurrency as a major priority and advocated for a regulatory framework that supports software developers' innovation while ensuring investor protections and disclosures at exchanges.
If confirmed, Selig would become the sole member of the five-member bipartisan CFTC, raising concerns about potential legal challenges due to the lack of broad consensus.
Acting Chair Caroline Pham, who has led the agency since early 2025, is expected to step down after a permanent replacement is confirmed; this follows the previous withdrawal of nominee Brian Quintenz.
A former official on the SEC Crypto Task Force, Selig suggested focusing regulatory efforts on on-chain markets and decentralized finance (DeFi) applications rather than imposing broad financial regulations on DeFi.
He did not commit to increasing CFTC staffing, instead stating he would review staffing levels upon taking office; the agency has experienced staff reductions of up to 20%.
Additionally, Selig called bitcoin mining vitally important infrastructure and voiced support for domestic U.S. mining operations and protections for miners.
