CFTC Chair Selig holds primary authority over U.S. crypto derivatives oversight. CME CEO criticized Selig’s crypto perp approval as CME shares came under pressure. Lawmakers from both parties
Michael Selig has been the CFTC chairman for less than six months. In that time, he has approved the first regulated Bitcoin perpetual futures contract, moved to vacate a Biden-era settlement with Gemini, pulled back on crypto enforcement actions, and challenged multiple states trying to crack down on prediction markets.
He has done all of this as the sole sitting member of what is legally supposed to be a five-person bipartisan commission. The remaining seats are empty, giving Selig unilateral authority over everything from Kalshi and Polymarket to oil futures to the entire $2 trillion crypto market.
Read The Full Article Michael Selig Is Reshaping U.S. Crypto Policy as Sole CFTC Commissioner On Coin Edition.
