Selig's CFTC Hearing: Funding, Bipartisanship, and Crypto Regulation

Mike Selig, nominated to lead the Commodity Futures Trading Commission, faced a Senate hearing this week. Despite positive reception from both parties, Selig avoided committing to needing more resources for the agency, even as it prepares to regulate the growing cryptocurrency market. He also sidestepped questions about ensuring non-Republican commissioners are appointed, despite legal requirements for a bipartisan board. Seligs nomination has support from the crypto industry, but his reluctance to address funding and staffing needs, as well as the lack of minority Democrat commissioners, has raised concerns. A vote on his confirmation is scheduled for Thursday.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.