CFTC chair nominee to face Senate questions on crypto regulation

The U.S. Senate is expected to question Commodity Futures Trading Commission (CFTC) chair nominee Michael Selig on cryptocurrency regulation during his confirmation hearing on July 19, Reuters reported. The nominee is also likely to face questions regarding cooperation with the Securities and Exchange Commission (SEC) and the regulation of prediction markets. Selig currently serves as senior legal counsel for the SEC's crypto task force and will officially take office as CFTC chair upon Senate confirmation.