Michael Selig, the nominee for the chair of the Commodity Futures Trading Commission (CFTC), emphasized the need for robust oversight of digital assets and decentralized finance (DeFi) during his nomination hearing. Selig cautioned against a regulatory approach that relies heavily on enforcement actions, suggesting it could drive companies to relocate outside the United States. His comments highlight the ongoing debate over how best to regulate the rapidly evolving digital asset sector without stifling innovation or competitiveness.