– Mike Selig confirmed as CFTC chairman in 53-43 Senate vote – Former SEC Crypto Task Force chief counsel appointed by Trump – Congress considers granting CFTC jurisdiction over crypto markets – Selig aims for U.S. to become “Crypto Capital of the World” – Caroline Pham to join MoonPay as Chief Legal Officer – Travis Hill confirmed to lead FDIC, impacting crypto-friendly banks – Regulatory clarity boosts confidence for institutional crypto investments – CFTC’s new leadership may streamline digital asset policy

The U.S. Senate confirmed Mike Selig as the new chairman of the Commodity Futures Trading Commission (CFTC) with a 53-43 vote. Selig, a crypto advocate and former chief counsel for the SEC's Crypto Task Force, takes on this role as Congress considers granting the CFTC primary jurisdiction over cryptocurrency spot markets.

Selig aims to position the U.S. as the "Crypto Capital of the World" by providing regulatory clarity.
He replaces Acting Chair Caroline Pham, who will join MoonPay as Chief Legal Officer.
The Senate also confirmed Travis Hill to lead the Federal Deposit Insurance Corporation (FDIC).

Regulatory Clarity Boosts Institutional Crypto Confidence

Selig's confirmation is seen as reducing risk for institutional investors due to clearer regulatory jurisdiction between the SEC and CFTC.
His experience in digital asset policy is expected to foster a more streamlined regulatory approach.
This could lead to a more predictable environment for product development and market operations in the U.S.
The move potentially lowers regulatory risks for U.S.-based crypto investments.