TechFlow news, November 19 — According to Reuters, U.S. senators will question Michael Selig, President Trump's nominee for chair of the Commodity Futures Trading Commission (CFTC), on Wednesday about hot-button issues including cryptocurrency regulation reform and election betting.
Selig currently serves as chief counsel for the Securities and Exchange Commission (SEC) Crypto Task Force and as an advisor to Paul Atkins, Trump-appointed Republican SEC chair. After his nomination, Selig posted on X that he would "help the president make America the global crypto capital."
The Senate is reviewing the CLARITY Act, which would clarify when cryptocurrencies are considered commodities rather than securities, thereby granting the CFTC authority to regulate the crypto spot market.
