On November 19, according to Reuters, U.S. senators are scheduled to question Michael Selig on Wednesday about his plans to reform cryptocurrency regulation and election forecasting, among other hot-button issues. Selig is the CFTC chair candidate nominated by U.S. President Donald Trump. Selig is currently the chief counsel of the SEC's cryptocurrency task force and an adviser to Paul Atkins, the Republican Securities and Exchange Commission chairperson appointed by Trump.
If Congress passes a bill called the CLARITY Act, the Commodity Futures Trading Commission, which oversees commodity derivatives markets, will also take a more active role in regulating the cryptocurrency industry. Selig is expected to be questioned about the CLARITY Act, as well as how the CFTC will work with the SEC and regulate markets that allow Americans to bet on election results and other events.
Traditionally led by five bipartisan commissioners nominated by the president, the CFTC has just one commissioner, Caroline Pham, a Republican who also serves as acting chair. Pham has said she will leave the agency once Mr. Trump's nominee for chairperson is confirmed.
The US Senate will question Trump's nominee for CFTC chair on crypto regulation
2025-11-19 12:26:37
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