Prospective CFTC chair to face hearing after Trump pulls first pick
With the US government shutdown expected to end this week, the Senate Agriculture Committee scheduled a hearing to consider President Donald Trump’s pick to head the CFTC.
Michael Selig, currently serving as chief counsel for the crypto task force at the US Securities and Exchange Commission, will face questioning from senators next week in a hearing to consider his nomination as the chair of the Commodity Futures Trading Commission.
On Tuesday, the US Senate Agriculture Committee updated its calendar to include Selig’s nomination hearing on Nov. 19. The notice came about two weeks after the SEC official confirmed on social media that he was US President Donald Trump’s next pick to chair the agency following the removal of Brian Quintenz.
Hearings for Quintenz, whom Trump nominated in February, were put on hold in July amid reports that Gemini co-founders Cameron and Tyler Winklevoss were pushing another candidate. Quintenz later released private texts between him and the Winklevoss twins, signaling that the Gemini co-founders were seeking certain assurances regarding enforcement actions at the CFTC.