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The U.S. Senate will question Trump's nominee for CFTC chairman regarding the regulation of Crypto Assets.
According to Deep Tide TechFlow news on November 19, Reuters reported that U.S. senators will question Trump's nominee for chairman of the Commodity Futures Trading Commission (CFTC), Michael Selig, on hot topics such as Crypto Assets regulation reform and election betting.
Selig currently serves as the chief legal advisor to the Securities and Exchange Commission (SEC) cryptocurrency working group, and is also an advisor to Trump Republican SEC Chairman Paul Atkins. After being nominated, Selig posted on the X platform stating that he will “help the president make the United States the world's crypto assets capital.”
The Senate is reviewing the CLARITY Act, which will clearly define when Crypto Assets are considered commodities rather than securities, thereby granting the CFTC the authority to regulate the Crypto Assets spot market. The Trump administration has implemented industry-friendly policies, rescinded investigations into Crypto Assets companies, and signed legislation for stablecoin regulatory frameworks.