New CFTC chair Mike Selig launches crypto oversight reform initiative

Mike Selig, the new chairman of the U.S. Commodity Futures Trading Commission (CFTC), has unveiled an initiative called Future Proof to reform the agency's crypto oversight framework, Coindesk reported. The initiative aims to institutionalize supervision of innovative financial sectors, including the cryptocurrency market, through formal rulemaking. In posts on X and an op-ed for The Washington Post, Selig stated that he will announce further policy changes in the near future.