Multiple sources say his name is now circulating as the top contender to take over the Commodity Futures Trading Commission (CFTC) – and an announcement could come “any day now.”
The prospect has already sent a ripple of optimism through the crypto industry. Evan Weiss, COO of Alluvial and a longtime policy voice in the sector, described Selig as “the only major regulator who truly understands what effective crypto oversight should look like.” On social media, Weiss said that appointing him “would be the clearest signal yet that the U.S. intends to lead the global crypto economy.”
Behind the Scenes: A Shake-Up in CFTC Succession
Selig’s emergence follows weeks of political reshuffling. Earlier this year, Brian Quintenz – a former Trump-era nominee and policy director at Andreessen Horowitz (a16z) – had been the expected pick. But his path was derailed after private disputes surfaced between him and the Winklevoss twins, whose Gemini exchange faced a lengthy CFTC probe that ended only months ago.
After the twins privately expressed concerns about Quintenz’s role, he posted a message acknowledging the disagreement, saying they were “firm in their position” and “not seeking promises.” Soon after, his candidacy was abandoned, clearing space for Selig to take center stage.
A Familiar Face with a Reformist Reputation
Selig, who built his career at Willkie Farr & Gallagher before joining the SEC’s Crypto Task Force, has gained a reputation as both a technocrat and an outspoken critic of heavy‑handed regulation. During the final year of Gary Gensler’s leadership, he frequently challenged what he described as “regulation by enforcement,” arguing for clearer rulemaking instead of legal crackdowns.
He also became a public advocate for a shift in tone, especially in the weeks before Donald Trump’s 2024 election victory. “The next chapter for the SEC has to be one that works with innovators, not against them,” Selig posted last October, noting Bitcoin’s climb past $71,000 as symbolic of that shift in sentiment.
Rewriting the Rulebook: The Vision Behind Project Crypto
Since March, Selig has served as general counsel to the SEC’s 14‑member Crypto Task Force and a senior advisor to SEC Chairman Paul Atkins. He is also one of the key architects behind Project Crypto, an initiative launched in July to reengineer U.S. capital markets using blockchain infrastructure for settlement and transparency.
The project has earned cautious praise even from some of Selig’s previous critics. Cameron Winklevoss, co‑founder of Gemini, called it “one of the most forward‑thinking proposals I’ve seen come out of a regulatory body in years.”
For many in the industry, Selig’s potential appointment to the CFTC would represent more than just a personnel change – it would mark the beginning of a new regulatory era, one defined less by confrontation and more by collaboration.
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