Senate may vote on Selig as CFTC chair; Pham moves on crypto
The U.S. Senate could hold a vote as early as Thursday on President Donald Trump’s nominee to lead the Commodity Futures Trading Commission, according to the top Republican on the Senate Agriculture Committee.
In prepared remarks for a Thursday hearing on CFTC reauthorization, Committee Chair Glenn Thompson said the chamber could consider Michael Selig’s nomination the same day. The Agriculture Committee advanced Selig’s nomination to the full Senate along party lines a few weeks ago.
The Senate’s calendar of business did not list a vote on Selig’s nomination for Thursday. Lawmakers are expected to adjourn for the holidays on Dec. 22, narrowing the window to confirm the prospective CFTC chair.
Trump nominated Selig in November after withdrawing a previous pick, Brian Quintenz. During a November hearing, Selig said it was “vitally important” for the CFTC to “have a cop on the beat” for cryptocurrency oversight and enforcement.
Acting CFTC Chair Caroline Pham has served as the agency’s sole commissioner for months following departures as terms expired. Pham is expected to depart once the Senate confirms a new chair, which could initially leave Selig as the only member.
Pham continues crypto policy actions in final days
On Thursday, Pham said she plans to withdraw the CFTC’s “outdated” digital asset guidance, arguing it penalizes the cryptocurrency industry and impedes innovation. She also announced that the CFTC’s CEO Innovation Council will include the leaders of Kraken, Gemini, Bitnomial, Crypto.com, Polymarket, and Kalshi.
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