Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XRP News Today: Selig's CFTC Nomination Sparks Discussion: Balancing Progress and Oversight in the Future of Cryptocurrency

XRP News Today: Selig's CFTC Nomination Sparks Discussion: Balancing Progress and Oversight in the Future of Cryptocurrency

Bitget-RWA2025/10/24 20:14
By:Bitget-RWA

- Trump's nomination of SEC crypto expert Selig to lead CFTC sparks debate over crypto regulation balance between innovation and oversight. - Bipartisan legislation aims to expand CFTC's authority over spot crypto trading and tokenized assets amid jurisdictional disputes with SEC. - Stablecoin regulation becomes focal point as $4T+ annual volume raises concerns about reserves, systemic risks, and UK regulatory alignment. - Political divisions persist with Democrats accusing Republicans of crypto lobbying w

The nomination of

by U.S. President Donald Trump to head the Commodity Futures Trading Commission (CFTC) has heightened discussions about the direction of cryptocurrency oversight, as policymakers and industry figures call for more defined regulatory structures. Selig, who currently serves as chief counsel for the SEC’s crypto task force, is widely respected for his ability to balance regulatory demands with technological advancement. If confirmed, he would lead the CFTC at a crucial juncture, as lawmakers work to clarify the agency’s authority over digital assets.

XRP News Today: Selig's CFTC Nomination Sparks Discussion: Balancing Progress and Oversight in the Future of Cryptocurrency image 0

This nomination arrives as efforts intensify to settle jurisdictional conflicts between the SEC and CFTC. Legislators from both sides are pushing bills that would expand the CFTC’s reach in the crypto sector, especially regarding spot trading and tokenized assets. This legislative movement signals a bipartisan understanding that the U.S. must update its regulatory stance to stay competitive in the fast-changing global fintech arena.

At the same time, the Senate is preparing a

with pro-crypto Democrats such as Senator Kirsten Gillibrand, focusing on stablecoin rules and market structure updates. Leaders from , Ripple, and Circle are set to push for regulations that encourage innovation while safeguarding consumers. With stablecoins now handling more than $4 trillion in yearly transactions, they have become a central issue for officials seeking to improve reserve transparency and manage systemic threats.

U.S. regulatory moves are also shaping international policy. The United Kingdom has

with American standards, stressing the importance of reserve backing and redemption assurances to draw investment and innovation back to London. This cooperation highlights the need for coordinated rules to prevent market fragmentation and maintain liquidity in cross-border finance.

Nonetheless, the

continues to pose challenges. Senate Democrats have accused Republicans of using crypto industry leaders for political advantage, while Republicans advocate for lighter-touch regulation under the CFTC to promote growth. These disputes are intensified by the SEC’s enforcement-focused strategy under Chair Gary Gensler, which some say hampers industry progress. The ongoing lack of agreement has left the sector in a state of regulatory uncertainty, with businesses facing inconsistent state and federal requirements.

The CFTC’s

, such as new guidelines for spot crypto trading and integrating tokenized collateral, are intended to offer more certainty for both institutional and retail participants. Acting Chair Caroline Pham has stressed the need to update oversight for blockchain-based financial products, a step many see as essential for broader adoption.

Key players in the industry, including DeFi projects and stablecoin providers, are watching these changes closely. They warn that excessive regulation could push innovation abroad to more favorable jurisdictions, while too little oversight could undermine investor trust and increase systemic vulnerabilities, especially in decentralized finance and tokenized markets.

As Selig’s nomination heads to the Senate, its outcome could influence the direction of U.S. crypto policy for years to come. His background in both SEC and CFTC matters may help him steer a course between fostering innovation and ensuring accountability. Still, with deep political divisions, achieving regulatory clarity remains a complex challenge.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Canadian Advertisement Exploits Reagan’s Reputation, Trump Terminates Trade Negotiations

- Trump terminated U.S.-Canada trade talks after accusing Canada of "fraudulently" using a Reagan-era ad to challenge his tariffs. - Ontario's $75M ad campaign, featuring Reagan's 1987 anti-tariff speech, sparked backlash and escalated tensions over U.S. tariffs harming Canada's auto sector. - Supreme Court will rule on November 5 whether Trump's emergency powers justify unilateral tariffs, with lower courts previously deeming them unlawful. - Canada paused the ad campaign to resume negotiations, but Trump

Bitget-RWA2025/10/25 09:22

Fed Faces Rate Decision: Is a Cut Possible Without Key CPI Insights?

- U.S. Federal Reserve faces delayed September CPI release due to 22-day government shutdown, complicating inflation assessment ahead of October FOMC meeting. - ADP employment data gap forces reliance on alternative metrics, with Fed Chair Powell acknowledging limitations in private-sector data substitutes. - Markets price 98.9% chance of 25-basis-point rate cut, but hotter-than-expected CPI could delay action, triggering market volatility and global dollar impacts. - Mixed market reactions include a stron

Bitget-RWA2025/10/25 09:22

Short Squeezes and Meme Tokens: Is the Wild Ride of 2021 Making a Comeback or Falling Apart?

- Retail investors and social media are driving a GME-style short squeeze in Beyond Meat (BYND), surging 146% amid 63% shorted shares. - Meme coins like GameStop Coin (GME) and Axolotl Token (AXOME) mirror stock volatility, with AXOME surging 37x before stabilizing. - Base Protocol tokens (PING, CLANKER) see sharp gains from tokenomics upgrades, while crypto analysts warn of speculative risks and lack of utility. - Cross-market parallels to 2021's frenzy emerge, but experts caution smaller scale and emphas

Bitget-RWA2025/10/25 09:04
Short Squeezes and Meme Tokens: Is the Wild Ride of 2021 Making a Comeback or Falling Apart?