The Commodity Futures Trading Commission confirmed a CFTC leadership change on Monday. Acting chair Caroline Pham said Monday was her last day at the agency. The commission also swore in Michael Selig as CFTC chair that same day.
The agency said President Donald Trump nominated Michael Selig on Oct. 27. It also said the Senate confirmed him on Thursday. After the swearing in, the change left Selig as the agency’s sole commissioner, according to the report.
The transition shifts responsibility for US crypto regulation and broader commodity market oversight onto one official. It also arrives as Congress considers digital asset market structure legislation, which could expand the CFTC’s role.
Michael Selig CFTC Chair Starts Term With Focus on Crypto and Market Structure
The report said Michael Selig CFTC chair will serve a term that expires in April 2029. It also noted he previously served as chief counsel of the SEC’s Crypto Task Force. That background ties the new CFTC chair to federal work on US crypto regulation.
In his statement, Selig pointed to a policy approach he described as avoiding “regulation by enforcement.” He framed that line as the agency faces new products and more retail activity in commodity markets.
“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, according to the report.
“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,” he added.
David Sacks Mentions Selig and Paul Atkins as Agencies Face US Crypto Regulation
The report said White House crypto czar David Sacks commented on the leadership shift on Monday. He described Selig and SEC chair Paul Atkins as a “dream team to define clear regulatory guidelines,” the report said.
That remark placed the CFTC leadership change next to parallel work at the Securities and Exchange Commission. It also highlighted the split roles that often shape US crypto regulation, especially when lawmakers debate market structure and agency authority.
The report connected the moment to Congress moving toward digital asset market structure legislation. It did not provide bill text, but it described the effort as heading toward the President’s desk.
The CFTC now faces questions tied to digital assets, and it also faces scrutiny around markets such as prediction markets, which Pham mentioned in her exit statement.
Caroline Pham Leaves CFTC and Moves Toward MoonPay, Report Says
Caroline Pham leaves CFTC after serving as acting chair since January, according to the report. It also said she had been the agency’s sole commissioner since August. She previously said she would depart once Congress confirmed a new leader.
On Wednesday, MoonPay confirmed earlier reporting that Caroline Pham was headed to the crypto fintech company, the report said. That confirmation placed her next move inside the private sector during a period of active debate on US crypto regulation.
In her departing statement, Pham said the CFTC had “refocused on our mandate to promote responsible innovation and fair competition,” as the agency prepares for “expanded oversight of new markets and new products like digital assets, crypto, and prediction markets,” according to the report.
“I am thrilled to welcome Michael Selig as the 16th Chairman of the CFTC,”
Pham said.
“His pragmatic, common sense approach will ensure the CFTC strikes the right balance of innovation and market integrity,”
she added.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: December 23, 2025 • 🕓 Last updated: December 23, 2025
