SEC Appoints Crypto Lawyer Mike Selig as Chief Counsel of New Task Force

The U.S. Securities and Exchange Commission (SEC) has named crypto lawyer Mike Selig as chief counsel for its newly formed Crypto Task Force. Selig, a former partner at international law firm Willkie Farr & Gallagher, specialized in crypto regulations. Before that, he interned at the Commodity Futures Trading Commission (CFTC).

Chris Giancarlo, former CFTC chairman and current senior counsel at Willkie Farr, congratulated Selig in an X post, calling him a "protege." Selig’s appointment signals a shift in the SEC’s approach to crypto regulation. In an October op-ed for CoinDesk, he criticized the SEC’s enforcement-driven policies under Gary Gensler, advocating for regulatory clarity. Some of his recommendations, such as rescinding Staff Accounting Bulletin 121 and withdrawing from certain lawsuits, have already been implemented.

Selig joins 14 other professionals in the task force, including Landon Zinda, former policy director at Coin Center, and Veronica Reynolds, an ex-attorney at Baker Hostetler LLP specializing in NFTs and the metaverse. Zinda’s appointment was previously announced in February. The team also includes career SEC staff.

Commissioner Hester Peirce, who leads the Crypto Task Force, emphasized the group’s commitment to finding practical regulatory solutions. "The task force brings deep expertise and enthusiasm in tackling complex crypto regulatory challenges," she stated.

Selig’s appointment highlights the SEC’s evolving stance on crypto oversight, potentially paving the way for more industry-friendly regulations. The task force aims to collaborate with stakeholders to create a balanced regulatory framework, addressing concerns while fostering innovation. As crypto regulation continues to evolve, Selig’s leadership could play a crucial role in shaping the industry's future.