Odaily Planet Daily reported that the White House is close to announcing the nominee for the new chairman of the U.S. Commodity Futures Trading Commission (CFTC). The most likely successor is Mike Selig, chief legal counsel of the SEC Crypto Task Force.

Sources indicate that Selig remains the administration's preferred choice, and the White House has begun reviewing potential commissioners to rebuild the five-member commission, currently led by Acting Chair Caroline Pham. The nomination is seen as a crucial milestone in the crypto regulatory landscape, coming as Congress moves forward with the Market Structure Act, which would expand the CFTC's oversight of the crypto market.

Selig is currently a senior advisor to SEC Chairman Paul Atkins. He previously served as an associate commissioner at the CFTC and spent ten years in the digital asset team at Perkins Coie and Willkie Farr & Gallagher. (Crypto in America)