Senators Intensify Scrutiny on Crypto Regulator Michael Selig Amid CFTC Leadership Bid

Senior crypto regulator Michael Selig faced rigorous questioning from U.S. senators during a pivotal hearing to advance his nomination as head of the Commodity Futures Trading Commission (CFTC). The session, held before the Senate Agriculture Committee, underscored the high stakes for digital-asset regulation in the United States.

Selig, currently chief counsel for the SEC’s Crypto Task Force, defended his advisory history with crypto firms and outlined his regulatory philosophy. Lawmakers pressed him on decentralized finance (DeFi), agency stability, and the CFTC's prolonged single-commissioner operation. His nomination follows President Trump’s withdrawal of prior nominee Brian Quintenz.

"The U.S. is at a turning point," Selig warned, emphasizing that reliance on enforcement over clear rules risks driving innovation offshore. He framed crypto markets as a sector evolving from niche interest to systemic relevance—a transition demanding agile oversight.