**Regulator Mike Selig Nominated as Next Chairman of the U.S. Commodity Futures Trading Commission**
Mike Selig has been nominated to serve as the next chairman of the U.S. Commodity Futures Trading Commission (CFTC). In a recent social media post, Selig expressed his commitment to making the United States “the crypto capital of the world,” echoing the pro-cryptocurrency sentiments shared by several other U.S. government officials.
“Chairman Selig is going to do a great job at the CFTC. I have full confidence in his ability and leadership,” he said.
### Pro-XRP Stance
Notably, Selig is a vocal supporter of XRP, a popular altcoin. He consistently showed support for XRP while Ripple was engaged in a landmark legal battle with the U.S. Securities and Exchange Commission (SEC).
“XRP itself is simply computer code. A fungible commodity, like gold or whiskey—both of which can also be sold as part of investment schemes that implicate securities laws,” Selig stated in 2023.
Last year, he sharply criticized the SEC for proposing that Ripple pay a $2 billion penalty. “The SEC can’t argue a $2 billion penalty against Ripple with a straight face any better than it can the securities status of XRP,” he remarked.
### Industry Support
Selig has already received overwhelming support from the industry.
“Chairman Selig is going to do a great job at the CFTC. I have full confidence in his ability and leadership,” said one industry insider.
Venture capitalist Chris Dixon added, “Great to see Mike Selig nominated to chair the CFTC. The timing couldn’t be more important—market structure legislation needs to cross the finish line to deliver clear, workable rules for builders and consumers.”
With strong backing both within government and the crypto industry, Selig’s nomination comes at a pivotal moment for the regulation and future growth of digital assets in the United States.
https://u.today/new-cftc-chair-is-xrp-supporter
