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U.S. CFTC Chair nominee Michael Selig has been voted through by the Senate Agriculture Committee.
According to The Block, the U.S. Senate Agricultural Committee yesterday approved President Trump's nominee for the chairman of the Commodity Futures Trading Commission (CFTC), Michael Selig, by a vote of 12 to 11, and the nomination will be sent to the Senate for a full vote.
During the nomination hearing on Wednesday, Michael Selig was questioned by lawmakers about whether the CFTC needs to increase funding to cope with its digital asset regulatory responsibilities. The CFTC currently has only 543 full-time employees, while the SEC has 4,200 employees. Michael Selig stated that he would assess the agency's funding needs once he assumes the chairmanship.