Who Is Michael Selig? Trump's CFTC Pick Too Green Or Crypto Savior?

Michael Selig is the 15th CFTC chairman confirmed December 18, 2025. Michael Selig previously led the SEC’s Crypto Task Force and Project Crypto initiatives. Crypto leaders praise his expertise, but critics question whether the former Willkie Farr partner has sufficient experience.

Who Is Michael Selig? Career Background And Rise

In the clubby world of east coast US lawyers, Michael Selig emerges as a gregarious bridge-builder—smart and socially adept. The Trump nominee for chair of the Commodity Futures Trading Commission draws praise from mentors and colleagues past and present as much for his people skills as for his keen legal mind and knowledge of crypto.

Before his government service, Michael Selig was a partner in the Asset Management Department at Willkie Farr & Gallagher, where he concentrated on the intersection of financial regulations and crypto technologies, including blockchains and crypto assets. He advised clients on broad regulatory, enforcement, transactional, and legislative matters involving securities, commodities, and money services business law.

Who is Michael Selig’s client base? He counseled crypto network and protocol development companies, exchanges, asset managers, broker-dealers, banks, proprietary trading firms, stablecoin operators, NFT marketplaces, and consumer brands regarding financial regulatory issues. This included advising on product design for crypto networks, protocols, and instruments, offering and sale of fungible and non-fungible crypto assets, tokenization, formation of decentralized autonomous organizations, governance, custody arrangements, and registration with federal and state financial regulators.

Before his stint at Willkie Farr, Michael Selig held positions at Perkins Coie and the office of former CFTC Chair Christopher Giancarlo, another longtime crypto booster. This CFTC connection provided Selig with insider understanding of the agency he now chairs, having worked within its institutional culture during Giancarlo’s tenure.

Michael Selig is also a frequent speaker on crypto regulatory matters, including on popular podcasts such as Bankless, Unchained, and the Law of Code, and at events organized by CoinDesk, the Chamber of Digital Commerce, the Futures Industry Association, and NFT.NYC. He regularly contributes to CoinDesk, establishing himself as thought leader in crypto regulation discourse.

Crypto Industry’s Vocal Champion

Who is Michael Selig’s regulatory philosophy? Michael Selig has been a vocal supporter of the crypto industry, often criticizing what he views as regulatory overreach. Before Trump’s election last November, Selig frequently decried former SEC Chair Gary Gensler’s approach to crypto as “regulation by enforcement.”

“The election is a week away, BTC just broke $71k and SEC Chair Gensler will soon be cleaning out his office,” he wrote last October. “It’s time for the SEC to institute a hard fork in its approach to regulating crypto and welcome the builders back to America.”

In March 2025, he was tapped as general counsel for the SEC’s 14-person Crypto Task Force, a group charged with creating bespoke regulations for digital assets. In addition, he currently serves as Senior Adviser to SEC Chair Paul Atkins, according to his LinkedIn profile. In a landmark July speech, Atkins outlined a deregulatory campaign called “Project Crypto” meant to bring equities markets onchain.

Notably, Cameron Winklevoss praised Project Crypto as “one of the most groundbreaking things I’ve read in a very, very long time,” at an industry conference in New York last month. This endorsement from the Gemini co-founder carries particular weight given the Winklevoss twins’ role in derailing the previous CFTC nominee.

Industry Support for Michael Selig

Evan Weiss (Alluvial COO): “He’s delivered the most effective regulatory work we’ve seen out of any major regulator”

Cameron Winklevoss: Praised his Project Crypto initiative as groundbreaking

Multiple crypto attorneys and lobbyists: Expressed strong support since nomination announcement

“Now leading the SEC’s Crypto Task Force, he’s delivered the most effective regulatory work we’ve seen out of any major regulator,” Evan Weiss, chief operating officer at Alluvial and a former corporate attorney, wrote on X. “If we want America to be the crypto capital of the world, Mike is the right choice to chair the CFTC.”

The “Too Green” Controversy

Who is Michael Selig’s critics’ main concern? Despite industry enthusiasm, some observers question whether Michael Selig has sufficient experience for the CFTC chairmanship. The “too green” criticism focuses on his relatively limited time in government service compared to previous CFTC chairs who typically served years or decades in regulatory positions before ascending to leadership.

However, supporters counter that traditional regulatory experience often means being steeped in outdated frameworks unsuited for crypto innovation. They argue Michael Selig’s combination of private sector crypto expertise and recent government service provides ideal positioning to craft modern regulations without legacy bias.

The question remains whether fresh perspective outweighs institutional knowledge. Previous CFTC chairs brought deep understanding of commodity markets, agricultural futures, and energy derivatives—traditional CFTC jurisdictions. Michael Selig’s expertise centers primarily on crypto and digital assets, which represent relatively small portion of total CFTC oversight despite their public prominence.

Critics worry this narrow focus could lead to neglect of traditional commodity markets that remain economically vital. Farmers relying on wheat and corn futures, energy companies hedging oil prices, and manufacturers managing input costs through commodity derivatives need regulatory attention beyond crypto’s flashy headlines.

The Quintenz Drama And Winklevoss Factor

Who is Michael Selig replacing? Understanding the answer requires examining the Quintenz nomination collapse. Brian Quintenz, head of policy at Andreessen Horowitz’s crypto arm, received similar acclaim from the crypto industry when first nominated in February. But his nomination was reportedly opposed by twins Tyler and Cameron Winklevoss, co-founders of Gemini exchange and two of Trump’s most vocal supporters.

In a bid to salvage his nomination, Quintenz took the remarkable step of publicly sharing screenshots of text messages he said he received from the Winklevoss twins. In those messages, they complained about a seven-year CFTC investigation targeting Gemini that ended with a $5 million consent order earlier this year.

Quintenz said in the messages that he would commit to a “fair and reasonable review of the matter” as CFTC chair but left any “solutions” to a “fully confirmed chair.” Tyler Winklevoss responded: “Our complaint raises serious questions and concerns about the culture of the agency that you are about to chair. Cultural reform, which includes rectifying what happened to us, should be the highest priority.”

“They completely nuked him,” a source familiar with discussions said. “They made a phone call. They were like, ‘This is not going to fly with us.’ And it was a very short trip from there to [Quintenz’s nomination] being killed.”

This political drama raises questions about whether Michael Selig can avoid similar pitfalls. His apparent support from Cameron Winklevoss regarding Project Crypto suggests he may have better relationships with the influential twins. However, it remains to be seen whether that show of support can preempt behind-the-scenes bickering that derailed Quintenz.

CFTC’s Expanded Role In Crypto Regulation

Who is Michael Selig inheriting what agency? The CFTC traditionally regulates futures for commodities such as oil and wheat, quite different from crypto’s digital nature. However, a market structure bill making its way through Congress would largely hand regulation of the crypto industry to the CFTC, dramatically expanding the agency’s purview and importance.

This legislative shift reflects recognition that SEC’s securities-focused framework doesn’t fit many crypto assets. The CFTC’s commodities approach may better accommodate crypto’s unique characteristics, though the transition creates regulatory uncertainty during the handoff period.

The agency has been short-staffed for months. While it typically features one chair and four commissioners, it has been led single-handedly on an interim basis by crypto ally Caroline Pham since September 3. Michael Selig’s confirmation ends this interim period, restoring full leadership capacity as the agency prepares for dramatically expanded responsibilities.

What Michael Selig’s Confirmation Means For Crypto

Who is Michael Selig’s regulatory agenda likely to prioritize? Based on his public statements and Project Crypto involvement, expect deregulatory approaches designed to “welcome builders back to America.” This contrasts sharply with Gensler’s enforcement-heavy SEC tenure that drove many crypto companies offshore.

Specific policy areas likely to see reform include clearer guidance on token classifications, streamlined registration processes for crypto exchanges and platforms, reduced enforcement actions against companies attempting good-faith compliance, and international coordination to prevent regulatory arbitrage.

However, Michael Selig faces immediate challenges beyond crypto. Traditional commodity market participants need regulatory attention, international coordination on crypto standards remains incomplete, and congressional appropriations may limit CFTC resources despite expanded mandate. His success depends on balancing crypto innovation encouragement with protecting traditional markets and consumers from fraud or manipulation.

The crypto industry’s unified support for Michael Selig represents rare consensus in a fractious sector. Whether this goodwill translates into effective governance or whether the “too green” concerns prove justified will become clear in his first year as chairman.

FAQ

Who is Michael Selig before joining the SEC?

Michael Selig was a partner at Willkie Farr & Gallagher, where he advised crypto companies, exchanges, asset managers, and stablecoin operators on regulatory compliance. He previously worked at Perkins Coie and in former CFTC Chair Christopher Giancarlo’s office.

Why was Brian Quintenz’s CFTC nomination killed?

The Winklevoss twins from Gemini opposed Quintenz over a $5 million CFTC consent order against their exchange. After Quintenz wouldn’t promise specific remedies, they reportedly lobbied against his nomination, which was ultimately withdrawn.

What is Project Crypto?

Project Crypto is SEC Chair Paul Atkins’ deregulatory campaign meant to bring equities markets onchain. Michael Selig, as senior adviser, played a key role in developing this initiative praised by crypto industry leaders.

Does the CFTC regulate cryptocurrencies?

Currently, the CFTC regulates crypto derivatives like Bitcoin futures. A pending market structure bill would expand CFTC authority to cover broader crypto regulation, shifting oversight from the SEC.

Why do critics say Michael Selig is “too green”?

Critics worry his relatively limited government service experience and narrow focus on crypto may leave him unprepared for CFTC’s broader responsibilities overseeing traditional commodity markets like agricultural and energy futures.

When will Michael Selig be sworn in as CFTC chair?

Michael Selig was confirmed by the U.S. Senate on December 18, 2025, and will soon be sworn in as the 15th chairman of the Commodity Futures Trading Commission.