Michael Selig Appointed as New CFTC Chair Amid U.S. Financial Innovation Era

According to PANews, the U.S. Commodity Futures Trading Commission (CFTC) has announced that Caroline D. Pham has stepped down as acting chair, with Michael Selig taking over as the 16th chair. Selig previously served on the SEC's special task force for crypto assets, where he actively promoted legislation for digital asset market structure and advocated for ending the practice of 'regulation by enforcement.' He expressed his intention to guide the CFTC in establishing 'common-sense' rules during the new era of U.S. financial innovation, aiming to position the United States as a global hub for crypto capital.