Newly appointed CFTC chairman supports the cryptocurrency industry and launches the "Future Protection" plan

The newly appointed chairman of the U.S. Commodity Futures Trading Commission (CFTC), Mike Selig, appointed by Trump, stated that he will promote a rule-making plan aimed at providing "future protection" for the cryptocurrency industry. This plan will establish a regulatory framework for crypto assets and other financial innovations through formal legislative processes, making it less likely to be overturned in the future.

In a post on social platform X and in the Washington Post on Tuesday, Selig mentioned that the CFTC will end the practice of "replacing regulation with enforcement" and will create tailored formal rules for emerging markets such as digital assets to ensure the global competitiveness of U.S. financial markets. He pointed out that the digital asset economy has evolved from a "novelty" into a market worth approximately $3 trillion. Although specific regulatory details have not yet been disclosed, Selig indicated that more policy adjustments will be announced in the coming days, and an Innovation Advisory Committee will be established to provide guidance on financial innovations, including crypto assets, prediction markets, and perpetual contracts.

Selig also emphasized that regulatory policies formed through formal rule-making processes will be more stable than informal guidance and less likely to be overturned by subsequent administrations. On the same day, the CFTC announced the hiring of cryptocurrency lawyer Michael Passalacqua to participate in related work. Analysts believe that this statement continues the Trump administration's overall supportive regulatory stance towards crypto innovation, and the CFTC may become one of the most critical regulatory bodies for the U.S. cryptocurrency market in the future.