Mmastodon WorldUS Politics first seen 3 d ago, last 3 d ago, peak #1

Crypto regulator CFTC shrinks as markets expand under Selig

Original: "As crypto & prediction markets expand,🚨their regulator shrinks." "Before # Trump tapped Michael Selig to lead the # CFT

Critics are pointing to a contradiction in US financial regulation: crypto and prediction markets are growing, while the Commodity Futures Trading Commission, their main regulator, is being scaled back. Attention is focused on CFTC chair Michael Selig, tapped by Donald Trump, who previously worked as a corporate lawyer for crypto firms and prediction markets and sold between $65,000 and $150,000 in Bitcoin before becoming a commissioner.

Why now: Concerns about conflicts of interest at the CFTC as crypto regulation is scaled back under a former industry lawyer.

Michael SeligDonald TrumpCFTC

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• "As crypto & prediction markets expand,🚨their regulator shrinks." "Before # Trump tapped Michael Selig to lead the # CFTC ,🚨he was a corporate lawyer for crypto firms & prediction markets. & he sold between $65,000 & $150,000 in Bitcoin before he became a commissioner. So yes,… · KimPerales@toad.social · 10

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