TechFlow, Dec 23 — According to Cryptobriefing, Bitcoin advocate Michael Selig has officially been sworn in as Chair of the U.S. Commodity Futures Trading Commission (CFTC), following confirmation by the U.S. Senate.
In a statement, Selig said the CFTC is entering a period of significant transformation driven by increased retail participation and the emergence of new products and platforms. He noted that the agency will play a greater role in establishing practical regulatory standards for digital asset markets while safeguarding the stability and integrity of U.S. derivatives markets. Selig emphasized: "We are at a unique moment where new technologies, products, and platforms are emerging, retail participation in commodity markets is at an all-time high, and Congress is poised to deliver digital asset market structure legislation to the President that cements America's status as the 'crypto capital of the world.'"
Prior to joining the CFTC, Selig served as Chief Counsel of the SEC's Crypto Task Force and as a senior advisor to SEC Chairman Paul Atkins.
