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Michael Selig, nominated by Trump, was approved by the Senate committee, and his appointment as CFTC chairman will go to a full Senate vote.

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[Trump-nominated Michael Selig approved by Senate committee, CFTC chairman appointment goes to full Senate vote] The U.S. Senate Agriculture Committee passed Trump’s nominee for CFTC chairman, Michael Selig, with a vote of 12 to 11. During the hearing, lawmakers focused on whether the CFTC needs more budget for encryption regulation, as well as the agency's independence and partisan balance. Selig stated that he would assess funding needs after taking office and emphasized the need to establish a clear regulatory framework that protects investors and supports encryption innovation. The next step is to submit the nomination to the full Senate for a vote.

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