CFTC Chair Unveils ‘Future-Proof’ Push to Modernize Crypto Oversight

The U.S. commodities regulator is preparing for a regulatory reset, as the head of the agency lays out a vision aimed at keeping American crypto innovation onshore rather than driving it overseas.

Selig Outlines a New Regulatory Direction

Michael Selig, chairman of the Commodity Futures Trading Commission (CFTC), has announced what he calls a “Future-Proof” initiative, a sweeping effort to modernize how the agency regulates emerging markets. The plan places a strong emphasis on digital assets, while also addressing newer sectors such as prediction markets.

Selig said the initiative reflects a clear break from past regulatory approaches that, in his view, pushed innovation offshore. Despite those missteps, he argued that the United States remains home to some of the world’s most influential builders-and that regulation should no longer stand in their way.

A Promise of Clear, Fit-for-Purpose Rules

In a recent opinion piece published by the Washington Post, Selig wrote that U.S. financial regulators have a responsibility to craft clear and tailored rules that allow entrepreneurs to build responsibly, while still protecting the public from fraud, scams, and market manipulation.

According to Selig, the CFTC must be “future-proof for tomorrow’s innovations” which requires meeting developers and companies where they are instead of forcing new technologies into outdated frameworks.

What the ‘Future-Proof’ Initiative Includes

Under the initiative, CFTC staff will conduct a comprehensive review of existing rules and regulations, with the goal of modernizing them to ensure a level playing field for incumbents and new entrants alike. Selig said regulations should not only fit the product being regulated, but also serve a precise regulatory purpose, rather than relying on broad or ambiguous mandates.

He also pointed to the possibility of Congress passing long-awaited digital asset market structure legislation, which could significantly expand the CFTC’s authority over crypto markets. If that happens, Selig said the agency stands ready to take on a larger supervisory role, provided it is given the tools to do so effectively.

Minimum Regulation, Maximum Stability

Selig emphasized that his approach favors the “minimum effective dose” of regulation, arguing that overreach risks stifling innovation without improving consumer protection. He said future rules should be implemented through formal notice-and-comment rulemaking, ensuring they are durable and not subject to wild policy swings between administrations.

In closing his opinion piece, Selig urged regulators to abandon rigid and restrictive practices of the past, framing the current moment as a generational opportunity to modernize U.S. financial oversight and secure America’s leadership in crypto and emerging markets.

A Regulator Operating Alone

Despite his ambitious vision, the CFTC’s current structure raises concerns. The agency is designed to be governed by a five-member bipartisan commission, appointed by the president and confirmed by the Senate. At present, Selig is the only sitting commissioner.

Selig, a Republican, was nominated by Donald Trump in October 2025, confirmed by the Senate on December 18, and sworn in on December 22, 2025. The remaining four commissioner seats are vacant, leaving the agency without bipartisan balance for permanent rulemaking.

Staffing Fills Gaps-but Not Seats

While commissioner roles remain empty, Selig has moved to strengthen his office internally. In December 2025, he appointed Amir Zaidi as chief of staff, followed by the addition of Michael Passalacqua and Cal Mitchell as senior advisers this year.

Though these appointments help manage the agency’s workload, critics argue that the absence of bipartisan commissioners is particularly risky for crypto regulation, where policy choices carry far-reaching implications. Reports as recently as January 8, 2026, suggested the White House was considering bipartisan nominees-but no confirmations have followed.

For now, Selig continues to steer the CFTC largely alone, wielding outsized influence over the agency’s priorities as the U.S. debates how to regulate the future of finance.