CFTC’s New Chair Michael Selig May Advance Crypto Oversight as Pham Joins MoonPay

• CFTC Leadership Transition: Michael Selig officially sworn in as the 16th chair, serving until April 2029.

• Caroline Pham ends her tenure as acting chair, having led since January and as sole commissioner since August.

• Selig’s background includes chief counsel at the SEC’s Crypto Task Force, emphasizing supportive crypto oversight with retail participation at all-time highs.

CFTC new chair Michael Selig steps in amid crypto growth, promising balanced regulation. Discover how this shift impacts digital assets and innovation in US markets today.

What is the significance of Michael Selig becoming CFTC chair?

Michael Selig’s appointment as CFTC chair marks a pivotal moment for cryptocurrency regulation in the United States. Sworn in on Monday after Senate confirmation, Selig vows to foster innovative technologies like crypto and blockchain through a collaborative approach rather than enforcement-heavy tactics. His term extends to April 2029, aligning with broader efforts to position the US as a global leader in digital assets.

CFTC acting chair Caroline Pham says Monday was her last day at the regulator, with Michael Selig being officially sworn in to chair the agency.

The US Commodity Futures Trading Commission has officially undergone a change of leadership, with acting chair Caroline Pham saying she will leave the agency on Monday, while Mike Selig was sworn in as chair.

Pham, who had been serving as the CFTC’s acting chair since January and its sole commissioner since August, said on Monday that it would be her last day at the agency.

Meanwhile, the CFTC confirmed that Selig was sworn in as the agency’s 16th chairman on Monday after being nominated for the role by President Donald Trump on Oct. 27 and confirmed by the Senate on Thursday.

Pham’s departure leaves Selig as the CFTC’s sole commissioner. He is widely seen as pro-crypto and previously served as the chief counsel of the Securities and Exchange Commission’s Crypto Task Force.

Source: Caroline Pham

How does Caroline Pham’s departure affect CFTC’s crypto strategy?

Caroline Pham’s exit from the CFTC after serving as acting chair highlights a smooth transition to more structured leadership under Selig. During her tenure, Pham advocated for responsible innovation in digital assets and prediction markets, refocusing the agency on fair competition. Sources from the CFTC indicate her proactive stance helped prepare for expanded oversight of crypto products, with Selig expected to build on this foundation. Expert analyses from financial regulators note that her departure, while leaving Selig as the sole commissioner temporarily, ensures continuity in pro-innovation policies. For instance, Pham’s statements emphasized the CFTC’s role in promoting market integrity amid rising retail participation in commodities, which reached record levels in 2025 according to agency reports. This shift aligns with congressional efforts on digital asset legislation, potentially streamlining crypto market structures without disrupting ongoing initiatives.

Selig will now serve a term that will expire in April 2029, and has previously vowed to support growth in innovative technologies such as crypto and blockchain by avoiding a so-called “regulation by enforcement” approach. 

“I’m grateful for the confidence President Trump has placed in me and for the opportunity to lead the CFTC at this pivotal time,” Selig said.

“We are at a unique moment as a wide range of novel technologies, products, and platforms are emerging, retail participation in the commodity markets is at an all-time high, and Congress is poised to send digital asset market structure legislation to the President’s desk, cementing the US as the Crypto Capital of the World.”

On Monday, White House crypto czar David Sacks said Selig and SEC chair Paul Atkins were a “dream team to define clear regulatory guidelines.”

Pham has long said she would leave the CFTC once Congress confirmed someone to lead the agency, and on Wednesday, MoonPay confirmed earlier reports that Pham was headed to the crypto fintech company.

Pham’s time as acting chair saw her take a proactive approach to supporting crypto regulation.

Pham said in her departing statement that the CFTC had “refocused on our mandate to promote responsible innovation and fair competition as the CFTC prepares to take on expanded oversight of new markets and new products like digital assets, crypto, and prediction markets.”

“I am thrilled to welcome Michael Selig as the 16th Chairman of the CFTC. His pragmatic, common-sense approach will ensure the CFTC strikes the right balance of innovation and market integrity,” she added.

Frequently Asked Questions

What role did Caroline Pham play at the CFTC before her departure?

Caroline Pham served as the CFTC’s acting chair since January 2025 and as the sole commissioner since August, guiding the agency through key periods of crypto market evolution. Her leadership emphasized proactive regulation for digital assets, preparing the commission for broader oversight responsibilities in emerging technologies.

Why is Michael Selig considered pro-crypto for the CFTC chair position?

Michael Selig’s pro-crypto reputation stems from his time as chief counsel at the SEC’s Crypto Task Force, where he focused on balanced guidelines for blockchain innovations. As CFTC chair, he aims to support market growth naturally, addressing voice search queries on US crypto leadership by promoting clear rules that encourage participation without excessive enforcement.

Key Takeaways

• CFTC Leadership Renewal: Michael Selig’s swearing-in as chair ensures continued focus on crypto innovation, with his term lasting until 2029.
• Pham’s Legacy: Her tenure advanced responsible oversight of digital assets, setting a foundation for fair competition in prediction markets and beyond.
• Future Outlook: Expect collaborative regulation with the SEC, positioning the US as a hub for blockchain technologies—monitor congressional digital asset bills for updates.

Conclusion

The transition to CFTC new chair Michael Selig from Caroline Pham represents a stable evolution in US cryptocurrency oversight, emphasizing innovation and market integrity. With Selig’s background and Pham’s foundational work on digital assets, the agency is poised for expanded roles in regulating crypto and blockchain. As legislative efforts advance, stakeholders should stay informed on these developments to navigate the growing crypto landscape effectively.