Personal views only. Official @CFTC Chairman account: @ChairmanSelig.
Washington, DC
Joined October 2017
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Follow my official X account @ChairmanSelig for the latest @CFTC news and announcements.
Mike Selig retweeted
CFTC Chairman @ChairmanSelig to @ClayTravis & @BuckSexton on Trump administration effort to bring order to the wild west of crypto.
Mike Selig retweeted
The fight for onion futures continues today in Chicago.
For those wondering how we got here, Congress banned onion futures in 1958 following market manipulation. Decades later, Hollywood successfully pushed to add a prohibition on box office event contracts.
Apparently, this debate still has a few layers left to peel back. Watch:
CFTC Chairman @ChairmanSelig to @ClayTravis & @BuckSexton: the link between regulating betting markets and… onion market manipulation. You read that right. Onions. 🧅
Mike Selig retweeted
Regulatory certainty in crypto markets shouldn’t come with an expiration date.
I’m committed to working across the aisle to establish clear, durable rules of the road that provide lasting regulatory certainty and stand the test of time. More on @Bankless:
Mike Selig retweeted
The @SECGov and @CFTC are moving to end years of regulatory turf wars over crypto.
“For so many years, the two agencies have been locked in turf battles.”
“We’re ending that turf battle once and for all.”
“We’ve put in place a memorandum of understanding between the agencies to work together to make sure that we’re totally harmonized and consistent across our policies, and that includes crypto.”
“Because the tokens themselves are not the securities, but the investment contract is.”
🎬 - @ChairmanSelig
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
Mike Selig retweeted
Offshore-style crypto leverage could be coming to U.S. spot exchanges.
“You can trade on margin. You can say that I will take these assets in my wallet. Let's say you've got ETH and SOL and whatever else. You pledge those as collateral, and you can go trade.”
“It allows you to trade and effectively leverage the capital of your assets instead of just having these sit idle in your wallet.”
“The margin requirements would be set by the exchange in consultation with the CFTC.”
— @ChairmanSelig on proposed Regulation CTX
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
Mike Selig retweeted
NEW EPISODE - The CFTC’s Proposed Rules to Reshape US Crypto Markets
CFTC Chair @ChairmanSelig joins @TrustlessState to unpack two proposed rules, Reg CTX and Reg CAM, that could reshape US crypto markets.
They break down how traders could use ETH and SOL as collateral, why federal licensing could replace the state-by-state patchwork for participating exchanges, and how the rules aim to prevent another FTX.
CHAPTERS
---
00:00 Intro
03:09 Why Financial Markets Need Federal Regulation
11:13 Who Actually Regulates Spot Bitcoin?
17:27 The CFTC, FinCEN, and State Regulators
22:29 The New Crypto Regulatory Trilogy
27:16 Reg CTX: Bringing Margin Trading Onshore
29:22 Reg CAM: A New Federal Exchange Framework
31:11 The Problem with 50 State Licenses
35:11 What Retail Crypto Leverage Could Look Like
39:24 Ending the SEC and CFTC Turf War
42:58 The Risks of Combining Financial Businesses
54:04 What Other Products Could This Unlock?
56:35 Where the CFTC Gets Its Authority
1:01:05 Can These Rules Survive Without the CLARITY Act?
1:05:05 Prediction Markets and the Supreme Court
1:08:11 How the Crypto Industry Can Respond
Mike Selig retweeted
EARLY ACCESS: The CFTC’s Proposed Rules to Reshape US Crypto Markets | CFTC @ChairmanSelig
New Era, New Rules
The CFTC has proposed two new rules for Crypto:
- Regulation CTX: Crypto Asset Transactions
- Regulation CAM: Crypto Asset Markets
Out now for Premium Subscribers 👇
Mike Selig retweeted
Fraud and manipulation know no borders.
The @CFTC has exclusive jurisdiction over prediction markets for this reason. These exchanges are interstate businesses that match the bids and offers of customers from across the country. Congress equipped the CFTC with the tools needed to enforce uniform standards, surveil and police fraud and manipulation, and protect customer funds across state lines. @LizClaman
Mike Selig retweeted
Thank you to @FarmBureau for the opportunity to address your Ag CEO Council today.
It was a pleasure joining @NGFA President Mike Seyfert on stage for a conversation centered on the @CFTC's work to build relationships and trust in the agriculture community, navigating agricultural market conditions, hedging risk, and 24/7 trading.
Mike Selig retweeted
Thank you @POTUS, @SecScottBessent, and @USComptroller for your work to end unlawful debanking practices and protect Americans' financial freedom. No longer will Americans be punished for embracing financial innovation or denied access to the system for exercising their right to choose how they manage their money.
Under the leadership of @POTUS and @SecScottBessent, @USComptroller Jonathan V. Gould is ending the weaponization of finance. Read about the OCC’s supervisory review of debanking activities in its nine largest national banks and its efforts to guarantee fair banking for all Americans. occ.gov/FairBanking
ALT A person signs a document at a desk in an office setting, surrounded by three others standing in the background. An emblem for the Office of the Comptroller of the Currency is visible. The text reads, "Guaranteeing Fair Banking for All Americans.
Mike Selig retweeted
A few years ago a federal regulator defending self-custody would have been unthinkable, but here we are.
Don’t miss my full interview with @ChairmanSelig streaming now.
The CFTC just proposed new rules for every crypto exchange in America, and @ChairmanSelig joined me for his first long-form interview since announcing them.
I asked him what changes for you, and whether owning Bitcoin is a bet for or against America.
TIMESTAMPS:
00:00 Trailer
00:53 Why the Clarity Act died
2:34 What the new rules actually do
5:13 Why this isn't "come in and register"
8:17 Which tokens count as commodities
11:14 How much leverage you'll be allowed
12:01 Policing a market that never closes
13:33 What the CFTC can see about your trades
15:16 Could these rules have stopped FTX?
19:13 His answer to the critics
21:11 Where meme coins landed
26:12 Will this survive the next administration?
28:55 Why he says America has to lead
31:43 Borrowing against your Bitcoin
34:12 How he found Bitcoin in 2011
38:06 The biggest misconception about Bitcoin
42:51 How exchanges actually sign up
Mike Selig retweeted
Event contracts are used by Americans every day to hedge risks, speculate, and provide the public with information about the outcome of future events.
With this move, the @CFTC is taking another important step to clarify that these commodity derivatives fall squarely within the CFTC’s regulatory remit under the Commodity Exchange Act and are subject to the agency’s exclusive jurisdiction.
.@CFTC Seeks Public Comment on Notice of Proposed Rulemaking Concerning the Inclusion of Certain Event Contracts in the Definition of Swap: cftc.gov/PressRoom/PressRele…
Mike Selig retweeted
Casino-style gambling products are not derivatives. Today, the @CFTC is providing clarity regarding the limits of our remit by codifying the exclusion of casino-style gambling products from the “swap” definition just as we have done with respect to other products historically regulated by the states.
.@CFTC Issues Interim Final Rule Excluding Certain Activity from the Definition of Swap: cftc.gov/PressRoom/PressRele…
Mike Selig retweeted
Here are the full remarks from @ChairmanSelig (with introduction from @giancarloMKTS) from the 6th Annual @FordhamCrypto Blockchain Regulatory Symposium on 10.5.26.
Thank you to @FordhamLawNYC and all 425 legal leaders who participated in the Symposium.
Mike Selig retweeted
Better Markets compared crypto to cocaine while attacking the CFTC's new rules.
Here's what Chairman Selig had to say about that.
Don’t miss the full show streaming now:
The CFTC just proposed new rules for every crypto exchange in America, and @ChairmanSelig joined me for his first long-form interview since announcing them.
I asked him what changes for you, and whether owning Bitcoin is a bet for or against America.
TIMESTAMPS:
00:00 Trailer
00:53 Why the Clarity Act died
2:34 What the new rules actually do
5:13 Why this isn't "come in and register"
8:17 Which tokens count as commodities
11:14 How much leverage you'll be allowed
12:01 Policing a market that never closes
13:33 What the CFTC can see about your trades
15:16 Could these rules have stopped FTX?
19:13 His answer to the critics
21:11 Where meme coins landed
26:12 Will this survive the next administration?
28:55 Why he says America has to lead
31:43 Borrowing against your Bitcoin
34:12 How he found Bitcoin in 2011
38:06 The biggest misconception about Bitcoin
42:51 How exchanges actually sign up
Mike Selig retweeted
The @CFTC's proposed crypto asset regulatory regime would institute a federal regulatory framework designed to protect exchange customers from fraud, manipulation, and theft of customer funds as we saw with FTX.
Ironically, by denouncing our efforts to bring market-based regulation to crypto exchanges and supporting the status quo, our critics find themselves on the side of the fraudsters, manipulators, and looters-dangerously inviting the next Sam Bankman-Fried to run roughshod over the American people.
Mike Selig retweeted
Not your keys, not your coins. The right to self-custody is a hallmark of Bitcoin and blockchain technology and a principle that I believe in 100%.
The @CFTC is committed to protecting the rights of blockchain users and software developers, while also protecting customers’ assets when they choose to rely upon a trusted party to custody or exchange their assets.
Mike Selig retweeted
The @CFTC's regulatory framework for crypto asset exchanges is modeled after the two-tiered bank charter regime to allow exchanges to opt in to comprehensive federal regulation and engage in a broader range of permissible market activities–or remain licensed under the patchwork of state money transmitter laws and continue to provide the payments services authorized under these licenses.
More from my conversation with @natbrunell 👇
Mike Selig retweeted
America is no longer sitting back while crypto moves overseas, and other countries set the standard.
Crypto is back onshore, and regulatory clarity will keep it here with America leading the way. @Varneyco