CFTC Acting Chair Caroline Pham stepped down, and Michael Selig was sworn in as the 16th Chair

According to the announcement on the CFTC official website, Caroline D. Pham, the acting chair of the U.S. Commodity Futures Trading Commission (CFTC), has officially stepped down, and Michael Selig has succeeded her as the 16th chair.

Selig previously served on the SEC's Crypto Assets Task Force, actively promoting legislative frameworks for digital asset market structures and advocating for an end to the "regulation by enforcement" approach. He stated that he will lead the CFTC in establishing "common-sense" rules in the new era of financial innovation in the U.S., helping the country become a global hub for crypto capital.