New Chief for Crypto Oversight: What's Next?

The White House has picked Mike Selig to head the Commodity Futures Trading Commission (CFTC). Selig is no stranger to the world of crypto. He's been a key player in the Securities and Exchange Commission's crypto task force. Before that, he was a big shot at a major law firm. This isn't the first time the White House has tried to fill this role. They initially chose Brian Quintenz, but that didn't work out. The Winklevoss brothers had some concerns about Quintenz. They thought he might not be fully on board with Trump's plans for crypto. This change in leadership has caused some delays in getting a major crypto bill passed. Right now, Caroline Pham is acting as the CFTC chair. She's said she'll step down once her replacement is confirmed. So, if Selig gets the job, Pham will likely be moving on. This is a big deal for the crypto world. The CFTC plays a major role in regulating crypto. With Selig at the helm, things could take a new direction. It's important to see how this plays out, as it could impact the future of crypto in the U. S.