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The U.S. Senate confirmed Michael Selig as Chairman of the Commodity Futures Trading Commission on December 19, 2025, in a 68-32 bipartisan vote, installing a regulator expected to expand the agency’s oversight of digital assets amid calls for clearer jurisdiction between the CFTC and SEC.
Confirmed, 53-43: Confirmation of the en bloc nominations provided for under the provisions of S.Res.532.
— Senate Cloakroom (@SenateCloakroom) December 19, 2025
Selig, a former CFTC commissioner nominated alongside nearly 100 others by President Trump in November, has advocated treating most cryptocurrencies as commodities under CFTC purview while supporting innovation-friendly rules. His term as CFTC Chair will run until April 2029. Upon swearing in, he will succeed acting Chair Caroline Pham, who intends to depart the agency once a permanent chair is confirmed, and join crypto infrastructure firm MoonPay.
For now, Selig will serve as the commission’s only sitting member, since the usual five-person body has been reduced to one following a string of resignations earlier in 2025 that left Pham as the sole commissioner.
During his confirmation hearing, Selig pledged to prioritize “responsible innovation” and streamline approvals for crypto derivatives, telling senators: “The CFTC is ready to lead on digital assets where they fit our mandate.” Democrats expressed concerns over potential deregulation, but 18 crossed party lines to support him.
The vote cements the CFTC’s growing role as the agency now oversees $20 trillion in crypto derivatives volume. Selig’s nomination was greeted with positive reception and his confirmation is now expected to accelerate spot market approvals under the Financial Innovation and Technology for the 21st Century Act framework.
President Trump has made an excellent choice in Mike Selig to lead the @CFTC.
As anyone who knows him will attest, @MikeSeligEsq is deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach in order to maintain America’s…
— David Sacks (@davidsacks47) October 25, 2025
Cody Carbone, CEO of the Digital Chamber advocacy group, called Selig’s confirmation “an exciting new chapter,” praising his track record as a former commissioner and lawyer who has delved deeply into the complex technical issues surrounding digital assets.
Fayar Shirzad, Chief Policy Officer at Coinbase, also praised the confirmation of Selig as one that will ensure that “America’s crypto market is governed with fairness, clarity and an abiding commitment to the law.”
Congratulations @MikeSeligEsq on your confirmation to lead @CFTC. Mike is exceptionally well-suited for the role. His experience in crypto and as a federal regulator will ensure that America’s crypto market is governed with fairness, clarity and an abiding commitment to the law.… https://t.co/6NXWE8asAN
— Faryar Shirzad 🛡️ (@faryarshirzad) December 19, 2025
In a related development, the Senate also confirmed Travis Hill as Chairman of the Federal Deposit Insurance Corporation, elevating the acting head known for his criticism of “debanking” practices that have targeted crypto-linked firms.
Hill, who has advocated for clearer guidelines on digital asset custody and stablecoin reserves, will serve a five-year term through 2030, positioning the FDIC to play a key role in regulating stablecoin issuers and bank exposure to crypto under frameworks like the GENIUS Act. Industry observers see his leadership as a counterbalance to past enforcement-heavy approaches, potentially easing banks’ participation in on-chain finance.
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