Michael Selig assumes chair role as Caroline Pham exits regulator after guiding digital asset policy
The U.S. Commodity Futures Trading Commission (CFTC) has entered a new leadership phase as Michael Selig is officially sworn in as chair, while Caroline Pham concludes her tenure at the agency. The transition comes at a pivotal moment for crypto and digital asset regulation in the United States, with lawmakers advancing market structure legislation.
Michael Selig Sworn In as CFTC Chair
Michael Selig was sworn in as the 16th Chair of the CFTC on Monday following his Senate confirmation last week. He was nominated by President Donald Trump on Oct. 27 and will serve a term running through April 2029.
Selig is widely viewed as supportive of crypto innovation, having previously served as chief counsel to the SEC’s Crypto Task Force. He has publicly opposed “regulation by enforcement,” emphasizing the need for clear, predictable rules to support emerging technologies such as blockchain and digital assets
Caroline Pham, who served as acting chair since January and was the agency’s sole commissioner since August, confirmed Monday as her final day at the CFTC. She had long indicated she would step down once a permanent chair was confirmed.
During her tenure, Pham emphasized responsible innovation, fair competition, and market integrity, particularly as the CFTC prepared for expanded oversight of crypto and prediction markets. She is expected to move into the private crypto sector, reflecting a broader trend of regulators transitioning into industry roles.
With Selig now the sole commissioner, the leadership change underscores a potential move toward clearer regulatory frameworks for digital assets as retail participation and innovation continue to grow.
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