CFTC Chairman Selig Advocates for Stable Crypto Regulations

U.S. President Donald Trump's newly appointed Chairman of the Commodity Futures Trading Commission (CFTC), Mike Selig, has announced plans to establish a regulatory framework for the cryptocurrency industry. According to ChainCatcher, Selig aims to create rules that will provide long-term protection for crypto assets and other financial innovations, ensuring they are not easily overturned in the future. In an article published on social media platform X and in The Washington Post on Tuesday, Selig stated that the CFTC will move away from its current practice of enforcement-based regulation. Instead, it will develop tailored rules for emerging markets like digital assets to maintain the global competitiveness of U.S. financial markets. He noted that the digital asset economy has grown from a novelty to a market valued at approximately $3 trillion. While specific regulatory details have not yet been disclosed, Selig mentioned that more policy adjustments will be announced in the coming days. Additionally, an Innovation Advisory Committee will be established to provide guidance on financial innovations, including crypto assets, prediction markets, and perpetual contracts. Selig emphasized that regulatory policies formed through formal rule-making processes are more stable and less likely to be overturned by future administrations compared to informal guidance. On the same day, the CFTC also announced the hiring of crypto attorney Michael Passalacqua to assist with related efforts. Analysts suggest that this stance aligns with the Trump administration's overall supportive position on crypto innovation, indicating that the CFTC may become one of the most crucial regulatory bodies for the U.S. crypto market in the future.