CFTC commissioner nominee says crypto will be a top priority

Michael Selig, a nominee for commissioner of the Commodity Futures Trading Commission (CFTC), stated during his U.S. Senate confirmation hearing that cryptocurrency will be a major priority in his work. He said this is an opportunity to establish a regulatory framework that creates an environment for developers to grow and allows for the emergence of new exchanges that protect investors. Selig emphasized the need to first understand the characteristics of the various on-chain services and applications created by blockchain. He also voiced his support for President Donald Trump's commitment to setting a uniquely American direction for crypto regulation.