Catenaa, November 24, 2025- Michael Selig advanced toward confirmation as chair of the Commodity Futures Trading Commission after the Senate Agriculture Committee backed his nomination in a 12 to 11 party line vote.
The move came one day after his initial hearing. The full Senate will take up the nomination next.
Selig is positioned to lead the agency as Congress considers bills that would place the CFTC at the center of federal oversight for digital assets.
Lawmakers questioned him on Wednesday about whether the agency needs added resources as trading oversight expands.
The CFTC has 543 full-time employees, far fewer than the Securities and Exchange Commission’s workforce of more than 4,000. He said staffing needs would be assessed once he assumes the role.
Members of the panel also pressed him on the agency’s independence. Several senators raised concerns about ensuring a balance of viewpoints on the commission.
Lawmakers asked whether he supports an even split between Democrats and Republicans and how he would advise President Donald Trump on upcoming commissioner selections. He said the commission’s mission benefits from broad perspectives.
Selig outlined his approach to digital asset oversight. He said the agency should set clear rules that protect users and set expectations for trading platforms.
He also said policy should support developers and new entrants that follow established controls and disclosure standards.
The nomination now moves to the Senate, where lawmakers will decide whether Selig will lead the agency during a period of fast-moving activity in crypto regulation.
