Wu Blockchain (@WuBlockchain): CFTC Chair Michael Selig is expanding his regulatory influence over crypto and prediction markets

CFTC Chair Michael Selig is expanding his regulatory influence over crypto and prediction markets CFTC Chair Michael Selig, currently the agency’s only sitting commissioner, effectively holds key regulatory decision-making power over crypto assets, prediction markets and derivatives markets. Less than six months into his tenure, Selig has pushed the regulatory environment for cryptocurrencies and prediction markets in a more open direction, including supporting approvals for innovative products, adjusting enforcement priorities and advancing related rulemaking. His influence is rising further as Congress considers legislation that would grant the CFTC greater authority over crypto market oversight.