CFTC Seeks CEO Nominations for Digital Asset Policy Council

According to Cointelegraph, Caroline Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), has announced a call for nominations of CEOs to join a new council aimed at discussing policies related to digital assets. This initiative is part of the CFTC's ongoing efforts to regulate the digital asset space, including previous endeavors such as the 'Crypto Sprint' initiative and a crypto industry forum. The council, referred to as the 'CEO Innovation Council,' will focus on the CFTC's expanded mission concerning crypto and prediction markets. Pham emphasized the importance of public engagement and the involvement of industry leaders to ensure the markets remain vibrant and resilient while protecting all participants. The CFTC is accepting submissions for the council until December 8, but it remains uncertain when the council will be officially formed. This uncertainty is compounded by the potential leadership change at the CFTC, as Pham may soon be replaced by Michael Selig, an official from the Securities and Exchange Commission (SEC). Selig's nomination as a Senate-confirmed chair of the commission is expected to proceed to a floor vote soon, although many lawmakers will not return to Washington, D.C., until after the Thanksgiving holiday. While the Senate has yet to vote on Selig's nomination, his recent testimony before the Agriculture Committee provided insights into his potential approach to digital asset regulation. Selig highlighted the necessity of having a regulatory presence in the spot digital asset commodity markets and stressed the value of diverse viewpoints within the CFTC. Currently, Pham is the sole commissioner, and no additional nominations have been announced by U.S. President Donald Trump as of Tuesday.