Crypto Lawyer Mike Selig Set to Be Sole Member of CFTC
Republicans in the Senate are racing to confirm a lawyer with a long list of crypto industry clients as the next Commodity Futures Trading Commission chair, a position that will hold wide sway over the industry.
CFTC nominee Mike Selig has served dozens of crypto clients ranging from venture capital firms to a bear-themed blockchain company based in the Cayman Islands, according to ethics records obtained by The Intercept.
Those records show the breadth of potential conflicts of interest for Selig, who, if confirmed, will serve on the CFTC alone due to an exodus of other commissioners.
With a Bitcoin crash wiping out a trillion dollars of value in the past few weeks, the industry is counting on friendly regulators in…
