U.S. President Donald Trump has picked Michael Selig as the Commodity Futures Trading Commission's chair, an administration official and Selig himself said on Saturday.

Selig is chief counsel for the CFTC's crypto task force and has worked with Securities and Exchange Commission Chairman Paul Atkins.

Both Selig and David Sacks, the White House artificial intelligence and crypto czar, confirmed the selection in separate posts on X.

Sacks praised Selig as "deeply knowledgeable about financial markets and passionate about modernizing our regulatory approach in order to maintain America's competitiveness in the digital asset era."

Selig, in his X post, said he would "work tirelessly to facilitate Well-Functioning Commodity Markets, promote Freedom, Competition and Innovation, and help th

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