White House crypto czar David Sacks has shown his support for Donald Trump’s nomination of SEC crypto counsel Michael Selig as the Commodity Futures Trading Commission (CFTC) chair. The acting chair, Caroline Pham, also commended Selig and stated that she looks forward to working with him.
David Sacks Backs Michael Selig To Lead CFTC
In an X post, the White House crypto czar said that President Trump has made an excellent choice in picking the SEC crypto counsel to lead the CFTC. Sacks noted that he is “deeply knowledgeable” about financial markets and passionate about modernizing the regulatory approach to maintain America’s competitiveness in the digital asset era.
CoinGape had reported that Trump had picked Michael Selig to lead the CFTC and would now face the U.S. Senate for his confirmation. This is significant as the commission has become a primary crypto regulator alongside the U.S. SEC.
Meanwhile, Sacks also alluded to how the SEC crypto counsel has been instrumental in driving the president’s crypto agenda as Chief Counsel of the SEC Crypto Task Force. Furthermore, the White House crypto czar stated that Michael Selig brings deep experience in traditional commodities markets from his time working at the CFTC under former Chairman Chris Giancarlo.
The crypto czar congratulated Michael Selig on his nomination. He said he looks forward to working with him on President Trump’s promise to make the U.S. the crypto capital of the planet.
Caroline Pham Congratulates The SEC Crypto Counsel
Acting CFTC Chair Caroline Pham also congratulated Michael Selig on his nomination as CFTC chairman. She asserted that his deep familiarity with CFTC markets will benefit their constituents, including crypto firms.
Pham further endorsed him as the right leader for this pivotal moment for innovation and market structure. She added that the CFTC’s Crypto Sprint and the SEC’s Project Crypto will usher in a new ‘Golden Age of Crypto.’
Meanwhile, the acting CFTC chair also mentioned that she looks forward to supporting Michael Selig and a smooth transition at the CFTC. She thanked Trump for the opportunity to launch this important work and get the agency back to basics.
Pham is expected to leave the CFTC once the Senate confirms Selig as the CFTC chair. Journalist Eleanor Terrett had previously revealed that she was likely to join crypto firm MoonPay once a new chair is confirmed.
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