Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Pro-cryptocurrency candidate assigned to align U.S. regulations on digital assets

Pro-cryptocurrency candidate assigned to align U.S. regulations on digital assets

Bitget-RWA2025/10/24 22:40
By:Bitget-RWA

- Trump administration plans to nominate pro-crypto SEC advisor Michael Selig as CFTC chair, signaling regulatory coordination shift. - Selig's SEC role in crypto task force aligns with White House directive to centralize non-security digital asset oversight under CFTC. - Nomination follows stalled CFTC leadership bids and aims to harmonize SEC-CFTC jurisdiction over Bitcoin/Ethereum vs. securities tokens. - Regulatory progress faces delays from 3-month government shutdown, complicating rulemaking for toke

Trump to put forward SEC's 'crypto-friendly' Michael Selig for CFTC Chair: Report — as per

The Trump administration is preparing to select Michael Selig, a senior adviser at the Securities and Exchange Commission (SEC) recognized for his supportive views on cryptocurrency, as the next leader of the Commodity Futures Trading Commission (CFTC). This decision, cited by officials, signals a significant change in U.S. crypto policy and may quicken the process of aligning regulatory approaches between the two agencies. Selig's nomination comes after former CFTC commissioner Brian Quintenz withdrew from consideration in September 2024 due to industry resistance, according to Coinotag.

Pro-cryptocurrency candidate assigned to align U.S. regulations on digital assets image 0

Selig, who currently serves as chief counsel for the SEC's crypto task force and has played a major role in shaping the agency's digital asset policies, is well-versed in the challenges of the crypto market. His likely appointment fits with Trump’s broader plan to consolidate crypto regulation under the CFTC, which the White House has tasked with overseeing spot markets for digital assets that are not securities, Coinotag notes. Caroline Pham, the CFTC’s Acting Chair, has stressed the importance of establishing a unified set of rules for tokenized collateral and spot crypto trading before the year ends, highlighting the urgency to complete regulations ahead of a possible legislative cutoff, as reported by

.

This nomination comes at a time when both the SEC and CFTC are working to clarify their respective roles and reduce uncertainty for those in the market. In July 2024, the White House Working Group on Digital Assets suggested giving the CFTC more authority over crypto assets based on commodities such as

and , while the SEC would continue to regulate tokens classified as securities, according to . This separation is intended to stop regulatory loopholes and create a more unified system for both investors and trading platforms.

Yet, progress has been slow. The ongoing federal government shutdown, now in its third month, has disrupted the work of regulatory agencies. SEC Chair Paul Atkins has admitted that the shutdown has postponed several initiatives under his "Project Crypto" plan, including the creation of a tailored exemption for securities offerings, as The Block has pointed out. Meanwhile, lawmakers are hurrying to finalize new laws before the year concludes, with Senate Republicans and Democrats separately meeting with crypto industry representatives to discuss compliance and innovation, also noted by The Block.

Selig’s potential appointment could help close the gap between the agencies. At the SEC, he has provided guidance on blockchain investigations and market oversight, making him well-positioned to support the CFTC’s “crypto sprint” program that began in August 2024, according to Coinotag. Observers believe Selig’s favorable attitude toward crypto—shown by his support for innovation-driven regulation—may help ease friction between regulators and the industry, while still safeguarding investors, Coinotag reports.

The CFTC’s emphasis on tokenized collateral and spot trading highlights the increasing importance of blockchain technology in the financial sector. By bringing tokenization under regulatory supervision, the agency seeks to update settlement processes and reduce risks from unregulated markets, FinanceFeeds reports. Together with the SEC’s focus on openness and accountability, these efforts could make 2026 a landmark year for institutional involvement in crypto assets, according to FinanceFeeds.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Solana Latest Updates: Surge in Institutional Trust: Solana Network Draws in $500 Million in Treasury Funds, Major Investors Increase Holdings

- A Solana whale added 250,000 SOL via OTC trades, accumulating 827,000 SOL since January 2024, signaling institutional interest. - Mercer Park's $300M acquisition of Cube Group plans a $500M SOL treasury, leveraging staking yields for 7-9% annual returns. - Institutional investors liquidated 1.817M HYPE tokens to buy 350,000 SOL, highlighting arbitrage-driven liquidity shifts in the ecosystem. - Regulatory normalization via FASB's 2025 crypto accounting rules and growing treasuries reinforce Solana's appe

Bitget-RWA2025/10/25 01:10
Solana Latest Updates: Surge in Institutional Trust: Solana Network Draws in $500 Million in Treasury Funds, Major Investors Increase Holdings

XDC Focuses on Liquidity to Propel DeFi into the Mainstream

- XDC Network launched a $10M liquidity incentive program to boost DeFi adoption via Curve Finance, XSwap, and Oku. - The initiative rewards liquidity providers with XDC or LST-XDC tokens to enhance stablecoin pools and AMM liquidity. - Phase 001 focuses on transparent Merkl.xyz-based rewards tracking and plans to expand into lending/derivatives markets. - Analysts view this as a strategic shift toward institutional-friendly DeFi, addressing fragile capital flows through targeted incentives.

Bitget-RWA2025/10/25 00:58

Tether’s $500 Billion Bet: Growth Fueled by Regulation or Hidden Motives?

- Tether projects $15B 2025 net profit (99% margin) and explores $500B valuation via Cantor Fitzgerald-led fundraising. - Dominates $316B stablecoin market with $182B USDT circulation, plans U.S. launch of regulated USAT via Anchorage Digital. - Faces transparency scrutiny despite $127B Treasury reserves and $41M CFTC fines, lacks Big Four audit for reserves. - Expands into AI, energy, and tokenized assets via Plasma blockchain, aiming tech conglomerate transformation. - Balancing U.S. GENIUS Act complianc

Bitget-RWA2025/10/25 00:42

Bitcoin News Update: Early Bitcoin Holders Transfer $16.6 Million to Counter Quantum Computing Risks

- A 14-year-old Bitcoin wallet (18eY9o) moved $16.6M in a single transaction, reigniting concerns over quantum computing threats to legacy P2PK addresses. - Experts warn quantum machines could crack Bitcoin's encryption within 4-5 years, with 25% of Bitcoin ($554B) at risk, particularly older wallets. - Companies like SEALSQ and Xanadu are advancing post-quantum solutions, but analysts stress urgent action is needed by 2026 to secure crypto infrastructure. - Institutional adoption of custodial products and

Bitget-RWA2025/10/25 00:42
Bitcoin News Update: Early Bitcoin Holders Transfer $16.6 Million to Counter Quantum Computing Risks