Making America the Crypto Capital of the World | New CFTC Chairman Michael Selig

**Mike Selig** (0:00)
I'm hoping that we have both the crypto capital of the world today, which I do believe the president has made the United States crypto capital of the world. I don't think there's any question that this is the best place to build right now and that we're seeing so much innovation in the space. But I want to see that for years to come. I want to make sure that if we do get the next Gary Gensler, the rules and the statues are very clear and they keep this stuff here for the long term.

**David Hoffman** (0:29)
Mike Selig, welcome back to Bankless.

**Mike Selig** (0:31)
Glad to be here.

**David Hoffman** (0:33)
Mike, I feel like your entire career prepared you for what you are doing now. So you clerked under Crypto Dad at the CFTC many years ago. You spent a decade representing crypto firms as a lawyer. You recently joined the SEC's crypto task force. That was in March 2025 And then in December, you were sworn in as the 16th CFTC chair. I feel in some ways like you are our dream candidate for this position. I don't know if you feel the weight of our hopes and expectations on your shoulders. But can you tell us in your words, why are you at the CFTC? Like what did you go there to go do?

**Mike Selig** (1:12)
I spent many years in private practice working with firms, innovating on the edge of crypto, AI, prediction markets, and even the traditional firms that were really trying to test the boundaries. And around 2021, 2022, it seemed like every day we were getting a Wells Notice or a subpoena, our voluntary information request, quote unquote, voluntary. But no, it really was a slog over the years representing clients in this space, trying to do the right thing, make sure that these clients had a place here in the United States, and they were really being pushed out. So when the 2024 election came around and President Trump won and was in office, I had the opportunity to go work with Chairman Atkins over at the SEC leading up as Chief Counsel of the Crypto Task Force. And we really did a bunch of great work bringing staking back to the United States, ending regulation by enforcement, clarifying what's the security, what's not, and we're still doing some work there between the agencies. But it was a great effort over at the SEC. We launched Project Crypto as well. And around December, I was confirmed to move over to the CFTC and begin work there. And we've been working very closely with the White House, thanks to the President's leadership on the Clarity Act, trying to get some legislation across the line. But there's so much we can do with Perpetuals and other digital asset products that we've got our hands full and I'm excited to be in the role.

**Ryan Sean Adams** (2:41)
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