US Crypto Regulation Set for MAJOR Overhaul! New CFTC Nominee Sparks Stormy Debate!

Economy

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Updated on 12 Nov 2025, 04:05 pm

US President Donald Trump has nominated Mike Selig to head the Commodity Futures Trading Commission (CFTC), a move that could reshape cryptocurrency oversight. The nomination comes as Washington advances efforts to regulate the digital asset market. If confirmed, Mike Selig would potentially oversee legislation granting the CFTC direct authority over spot cryptocurrency trading, a significant expansion of its regulatory powers. This process involves critical legislative steps, including markup hearings in the Senate Agriculture Committee and the Senate Banking Committee, followed by floor votes in the Senate and then the House of Representatives. The timeline for these steps remains uncertain.

Impact: This nomination and the subsequent legislative process could lead to greater regulatory clarity or stricter controls for the cryptocurrency market. This may impact global crypto prices, trading volumes, and the development of blockchain technology. A rating of 7/10 for potential impact on the global crypto market.

Terms: Commodity Futures Trading Commission (CFTC): A U.S. independent agency responsible for regulating the derivatives markets, including futures and options, and for promoting market integrity and stability. Spot Trading: The buying and selling of financial assets for immediate delivery at the current market price. Markup Hearing: A legislative session where a committee reviews, amends, and votes on a bill before it is sent to the full chamber.