Mike Selig, currently the chief counsel at the SEC's Crypto Task Force, is reportedly the frontrunner to become the next chair of the Commodity Futures Trading Commission (CFTC). Sources indicate that his nomination could be announced soon. Selig, known for his advocacy of a more builder-friendly regulatory environment, has been praised by industry leaders for his work in the crypto sector. He has previously criticized former SEC Chair Gary Gensler's approach to cryptocurrency regulation. Selig's potential appointment comes as Congress considers a market structure bill that would shift significant crypto regulatory responsibilities to the CFTC. The commission has been temporarily led by Caroline Pham since early September. Selig's experience and stance on crypto regulation could signal a shift towards more favorable conditions for the industry under his leadership.