Michael Selig, nominated by Trump, has been approved by the Senate committee for the CFTC chairman appointment to go to a full Senate vote.

Golden Finance reports that the U.S. Senate Agriculture Committee has approved Trump-nominated CFTC Chairman candidate Michael Selig by a vote of 12 to 11. During the hearing, lawmakers followed whether the CFTC needs more funding for encryption regulation, as well as the agency's independence and partisan balance. Selig stated that he would assess funding needs after taking office and emphasized the need to establish a clear regulatory framework that protects investors and supports encryption innovation.