According to ChainCatcher, Mike Selig, the newly appointed chairman of the U.S. Commodity Futures Trading Commission (CFTC) by Trump, said he will push for a rule-making plan aimed at “protecting the future” of the crypto industry, establishing a regulatory framework for crypto assets and other financial innovations through formal legislation that will make it difficult to overturn in the future.
Selig wrote an article on Tuesday on social media platform X and in The Washington Post, stating that the CFTC will end its practice of "enforcement instead of regulation" and develop tailored formal rules for emerging markets such as digital assets to ensure the global competitiveness of the U.S. financial market. He pointed out that the digital asset economy has grown from a "novelty" to a market of approximately $3 trillion. Although specific regulatory details have not yet been disclosed, Selig said that more policy adjustments will be announced in the coming days, and an Innovation Advisory Committee will be established to provide guidance on financial innovations including crypto assets, prediction markets, and perpetual contracts.
Selig also emphasized that regulatory policies formed through formal rule-making processes are more stable and less likely to be overturned by subsequent governments than informal guidance. On the same day, the CFTC also announced the hiring of crypto lawyer Michael Passalacqua to participate in related work. Analysts believe this statement continues the Trump administration's overall supportive regulatory stance towards crypto innovation, and the CFTC may become one of the most crucial regulatory bodies in the US crypto market in the future.
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