CFTC's new chairman takes office: ending "enforcement-based regulation" and promoting the restructuring of the encryption asset regulatory framework.

OnChainDetective

2025-12-23 00:40:10

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[Coin World] The Commodity Futures Trading Commission (CFTC) welcomes new leadership. Michael S. Selig officially took office as the 16th chair of the CFTC on December 22, succeeding the outgoing Caroline D. Pham.

Selig's resume is quite noteworthy. He served as the Chief Legal Advisor for the cryptocurrency working group at the U.S. Securities and Exchange Commission, possessing in-depth expertise in the digital asset space. More importantly, his regulatory philosophy is worth noting—Selig advocates for the end of “enforcement-based regulation,” which suggests a future shift towards more proactive and transparent rule-making in advance, rather than post-facto enforcement.

The new chairman is also committed to improving the regulatory framework for digital assets and promoting policy coordination among agencies. In the context of the rapid development of the current Web3 ecosystem, the CFTC, as the regulatory body for the U.S. futures market, will have a significant impact on the crypto derivatives market and the entire industry ecosystem with its policy direction. This change in leadership may signal that the U.S. regulatory approach to digital assets is undergoing a new adjustment.

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ProofOfNothing

· 2025-12-25 21:50

Finally not playing the "Armchair Strategist" game anymore, this is what we want to see Ending regulatory enforcement? That's a good idea, but it depends on whether they can really withstand the pressure Selig knows his stuff, but can this framework be well built? Will the FBI cooperate? Finally, someone in the crypto market wants to properly regulate, not just hunt down Honestly, it still depends on what happens next. A regulatory framework looks good on paper, but implementation is the real challenge This guy jumped over from the SEC, can he bring any new ideas? Inter-agency coordination? Is that possible in the US? I doubt it

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MetaMaskVictim

· 2025-12-25 16:47

Finally, it's no longer about managing through crackdowns. This guy seems a bit different. Wait, can it really be changed? The promised rule-making, but it might still be chaotic later. Wow, a former SEC guy who understands crypto... this is getting interesting. "Pre-established rules" sound good, but in practice... I'm choosing to wait and see. If this new chairperson truly streamlines the framework, I’ll give him a thumbs up.

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SpeakWithHatOn

· 2025-12-23 01:09

Finally, it's not just about management through crackdown, this guy seems to have some credibility. --- So, whether the situation can really change depends on how it will be implemented later... Anyone can talk empty words. --- Setting rules in advance? Just listen to it, the American system always sounds good. --- If this personnel change can really provide a clear framework, that would be great. The current chaotic situation is really frustrating. --- It's good to have someone who understands encryption in charge, at least we won't be randomly hacked anymore. --- By the way, can this guy really promote inter-agency coordination? That's the most difficult part... --- Goodness, finally it's not just the pure law enforcement approach, that's some progress. --- Reconstructing the regulatory framework? Sounds good, but the efficiency here in the U.S.... you can tell. --- A bit期待, but don't be too optimistic, such things often have a lot of noise but little rain.

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GasFeeGazer

· 2025-12-23 01:09

Finally, it's not just chasing and beating all day long, there's a bit of hope now. It feels like this guy really wants to establish rules, which is much better than the previous kind of law enforcement that was all about chasing and killing. Wait, will this really be implemented or is it just talk?

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ClassicDumpster

· 2025-12-23 01:09

Finally, no more being a backseat driver, I think establishing rules in advance works. Wait, can it really be changed? Or do we have to wait for the next chairman to overturn it? Selig understands encryption, which is good, but will the SEC cooperate... it's a bit uncertain. If it gets serious, the crypto world will have to be honest for a while. I hope this guy on stage won't play the enforcement raid game again, it's really exhausting.

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SchrodingerGas

· 2025-12-23 01:05

Finally, someone has understood that setting rules in advance is more in line with market efficiency than chasing after the fact. This is the logic of shifting from "punitive games" to "cooperative game equilibrium." Speaking of which, Selig's background is indeed solid; having been through the SEC, he at least understands what the on-chain data is saying. Compared to the previous "hit first and talk later" law enforcement model... this could really change the game rules. However, it's nice to say things, but we have to see how the subsequent policies are implemented, lest it be just paper talk. Having just a framework without an incentive mechanism still makes interaction costs ridiculously high. Forget it, let's just wait and see; after all, the market has been moving this way for a long time. Ending enforcement in favor of regulation? Sounds good, but will it just be changing a disguise to continue choking the neck... No matter what, this is better than Pham's approach; at least this time it’s not a guessing game.

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TokenToaster

· 2025-12-23 00:54

This guy really knows his stuff, finally not doing that post-event enforcement routine. Can he actually get something done... --- Wait, it sounds good in theory, but will they really relax? I find it a bit hard to believe. --- Ending enforcement for regulatory oversight? Sounds nice, but I'm afraid it's just talk, and in reality, it's still the same routine. --- Selig understands encryption, this time there might be hope, much better than the daily undermining. --- Inter-agency coordination... this is the hardest part, don't all departments have their own little agendas? --- Simply put, we need to set the rules in advance, don't let us shiver in the gray area, this idea is good. --- The previous routine was too absurd, is there finally a bit of hope now? --- Promoting framework reconstruction sounds easy, but once you start, it's a whole lot of bureaucratic wrangling.

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DisillusiionOracle

· 2025-12-23 00:45

Finally, there's a change in personnel. The previous strategy of taking one out at a time needs to be revised. That said, can Selig really handle this mess? --- Setting rules in advance sounds good, but the key is whether it can truly be implemented... I have reservations about the commitments from U.S. regulators. --- Everyone, it's getting serious. Do you understand what establishing a transparent framework means? For us retail investors, it might actually... complicate things? --- A former SEC person is leading the CFTC; this chess game is interesting. Let's see if he can really break the vicious cycle of "enforcement equals regulation." --- Clarifying the rules actually makes it easier to accurately target Be Played for Suckers; I believe this. --- Inter-agency coordination? Uh... neither the SEC nor the CFTC will give way, and it will just turn into a tug-of-war. --- We'll know in half a year whether this guy is reliable. Slogans are everywhere, but real action is what counts.

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