Selig Pushes CFTC Toward Digital Asset Rulemaking

Mike Selig, the newly appointed Chair of the Commodity Futures Trading Commission (CFTC), has unveiled the “Future‑Proof” initiative, a program aimed at modernizing how America’s derivatives regulator approaches digital assets and emerging technologies.

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Selig described the effort as a response to a “pivotal moment” in financial markets. The plan is designed to shift the CFTC from enforcement‑heavy oversight toward tailored rulemaking that addresses blockchain, decentralized finance, and AI‑driven trading systems.

What the Initiative Targets

The program will review outdated rules governing derivatives and prediction markets, updating them for tokenized assets and decentralized platforms. It also seeks to build frameworks for algorithmic trading and AI‑assisted financial tools, areas where current regulation lags behind market practice.

Selig emphasized that the CFTC must be equipped to serve “the markets of the future,” signaling a broader mandate than crypto alone. The initiative dovetails with congressional efforts like the Digital Asset Market Clarity Act, which could split oversight between the SEC and CFTC.

Industry reaction has been cautiously optimistic. Exchanges and DeFi projects see potential relief from regulatory uncertainty, while traditional financial firms warn against creating uneven competition. Coordination with the SEC remains a challenge, especially around token classification and staking products.

For now, the Future‑Proof initiative sets the tone for Selig’s tenure. By prioritizing rulemaking over litigation, the CFTC is positioning itself as a proactive regulator in a sector where clarity has been scarce.