Michael Selig has been sworn in as the Chairman of the U.S. CFTC, mentioning that the Digital Asset Market Structure Act is advancing soon.

Techub News reports that Michael S. Selig has been sworn in as the 16th Chairman of the U.S. Commodity Futures Trading Commission (CFTC). He was nominated by the President on October 27 and confirmed by the Senate on December 18. In a statement, Selig noted the rapid emergence of "emerging technologies, products, and platforms," historically high retail participation in commodity markets, and that Congress is preparing to send digital asset market structure legislation to the President for signature. He also stated that he will oversee the stability and security of the U.S. commodity derivatives market during this period of rapid transformation. Previously, Michael Selig served as the Chief Legal Counsel for the U.S. Securities and Exchange Commission (SEC) Crypto Assets and Cyber Unit and as a Senior Advisor to Chairman Paul Atkins.