Michael Selig, nominated by Trump, approved by Senate committee; CFTC chair appointment moves to full Senate vote

Jinse Finance reported that the U.S. Senate Agriculture Committee has approved Michael Selig, nominated by Trump, as the CFTC chairman by a vote of 12 to 11. During the hearing, senators focused on whether the CFTC needs a larger budget for crypto regulation, as well as the agency's independence and partisan balance. Selig stated that he would assess funding needs after taking office and emphasized the need to establish a clear regulatory framework that protects investors and supports crypto innovation.