Mike Selig Rises as Top Pick for CFTC Chair with Strong Crypto Support

Mike Selig, a well-known pro-crypto lawyer, is now seen as the top pick to lead the Commodity Futures Trading Commission (CFTC). As recently revealed, Selig has gained strong backing from major crypto leaders, including Ripple’s CLO, Stuart Alderoty. 

Trump’s CFTC Chair Nomination Shift Opens Door for Selig

The push for Selig’s appointment comes after President Donald Trump withdrew the nomination of former CFTC Commissioner Brian Quintenz. 

The decision reportedly followed a disagreement between Quintenz and Tyler Winklevoss, co-founder of Gemini. Before that, Trump had also been considering Jill Sommers and Kyle Hauptman and Mike Selig, who has now become the leading name for the role.

Selig’s candidacy is also strengthened by his previous experience within the CFTC. Early in his career, he worked as a law clerk for former CFTC Chair Chris Giancarlo, who was known for his crypto-friendly views. 

If Trump officially nominates him and the Senate confirms it, Selig would replace Acting Chair Caroline Pham, who plans to step down once a new leader takes over.

A Pro-Crypto Voice with Experience and Vision

Mike Selig has made a name for himself as one of the few regulators openly supportive of crypto growth in the U.S. He believes that the country can become a global hub for digital innovation if regulators focus on clarity instead of enforcement.

In late 2024, he publicly welcomed the potential departure of former SEC Chair Gary Gensler. He said Gensler’s resignation could open the door for a pro-crypto administration to make the U.S. the crypto capital of the world. 

Selig has also been a vocal critic of regulation by enforcement, where agencies act without clear guidelines. Instead, he supports a structured system where projects can innovate safely under clear and consistent rules.

Throughout his career, Selig has pushed for what he terms a “do not harm” regulatory approach to digital assets. He argues that new technologies should not be stifled by outdated laws or excessive control. His vision includes offering safe harbors and exemptions to innovative projects. At the same time, building a cooperative environment between regulators and builders.

This vision has inspired ongoing conversations around a potential “Innovation Exemption” rule, which would give crypto startups room to develop products responsibly before facing full regulatory requirements. 

Ripple’s Stuart Alderoty Endorses Selig

Among Selig’s growing list of supporters, Ripple’s top lawyer, Stuart Alderoty, has thrown his full support. 

Alderoty recently stated that Selig is the best person to unite the SEC and CFTC and end the regulatory confusion that has long slowed crypto progress. Alderoty praised Selig for understanding both agencies deeply and for wanting to reduce overlapping rules that cause unnecessary roadblocks.

According to Alderoty, Selig’s leadership could finally bring clarity, balance, and cooperation to U.S. crypto regulation. He stressed that this is something the industry has long hoped for.