Michael Selig, currently the chief counsel for the crypto task force at the US Securities and Exchange Commission, is set to face a Senate hearing for his nomination as the chair of the Commodity Futures Trading Commission (CFTC). The US Senate Agriculture Committee has scheduled the hearing for November 19, following President Donald Trump's decision to nominate Selig after withdrawing Brian Quintenz's nomination. The nomination comes amid significant regulatory shifts, with the CFTC expected to undergo changes related to digital assets. The US House of Representatives recently passed the CLARITY Act, which aims to delineate the roles of the SEC and CFTC in cryptocurrency regulation. The bill is currently under consideration by the Senate Agriculture and Banking Committees. Meanwhile, acting CFTC Chair Caroline Pham has indicated her intention to step down once a new chair is confirmed, potentially leaving Selig as the sole leader of the agency.