Michael Selig has been confirmed as the new chair of the Commodity Futures Trading Commission (CFTC) following a 53–43 vote in the U.S. Senate. Known for his expertise in digital assets, Selig has previously described XRP as "just code," suggesting it is not a security. His appointment is expected to bring clearer regulatory guidelines for cryptocurrency firms, potentially reducing the current uncertainty in the sector. Selig's views are in line with Ripple and recent court decisions, indicating a possible shift towards more favorable conditions for crypto innovation. His leadership may also influence the adoption of frameworks that balance technological advancement with measures to counter financial crimes, aligning with global standards such as the EU's Markets in Crypto-Assets Regulation.