CFTC Bolsters Crypto Oversight Team Amid Legislative Push for Expanded Authority
The Commodity Futures Trading Commission is fortifying its leadership ranks as Congress considers granting the agency broader jurisdiction over digital assets. Chair Michael Selig appointed two senior advisers with crypto custody and blockchain expertise, signaling proactive preparation for potential regulatory expansion.
Michael Passalacqua, a Simpson Thacher alum with deep crypto law experience, joins as senior adviser. The MOVE comes as Senate lawmakers debate shifting oversight responsibilities from the SEC to the CFTC—a transition that could reshape market structure for BTC, ETH, and other major tokens.
The agency operates with just one commissioner currently, forcing reliance on senior staff to navigate evolving policies. Regulatory coordination challenges persist as the SEC maintains its aggressive enforcement posture while the CFTC positions itself as a more industry-friendly alternative.
