Mike Selig
@ChairmanSelig • 11,881 subscribers
Serving President Donald J. Trump as the 16th Chairman of the @CFTC
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Videos
Gary Gensler said the law was clear–“virtually every crypto asset is a security”–and drove the crypto industry offshore. Now, he says the law is clear–“event contracts are not derivatives”–and seeks to push the prediction markets offshore. He has a poor track record reading the law. Event contracts, whether on sports, politics, or any commodity, are within the CFTC’s remit. We’ll regulate these markets accordingly. 📺 More this morning on Squawk Box 👇
Mike Selig43,445 görüntüleme • 7 gün önce
For far too long, the Biden administration left crypto in limbo by driving many crypto firms offshore and creating confusion as to what’s a security and what’s not. Paul Atkins and I have developed a new interpretation that provides regulatory clarity for the crypto markets. Watch more on Mornings with Maria⬇️
Mike Selig88,634 görüntüleme • 2 ay önce
Self-custody must be protected. The United States was founded on the principle of private property, and the seizure of assets is something we must guard against. At the CFTC, that means protecting Americans’ ability to hold and control their own digital assets.
Mike Selig47,944 görüntüleme • 1 ay önce
Prediction markets provide measurable value to market participants who use them to hedge and speculate on event outcomes as well as the public at large, which benefits from more reliable information about current events. The CFTC is committed to setting the gold standard for regulation of these markets. Watch more on PredictableShow:
Mike Selig45,592 görüntüleme • 1 ay önce
Finance has continuously evolved, from trading pits to electronic markets, to blockchains. If the US doesn't embrace this innovation, it will move offshore. Under President Donald J. Trump' leadership, I’m committed to keeping America the crypto capital of the world. Mark Moss
Mike Selig29,297 görüntüleme • 27 gün önce
Prediction markets are not new; we’ve regulated prediction markets since 1992. These markets allowed for political predictions, predictions on corporate earnings, and now sports. What we’re seeing now is huge uptick in demand by Americans to predict the future.
Mike Selig89,167 görüntüleme • 3 ay önce
Today, we're taking action by releasing clear guidance for prediction markets that will help exchanges understand the CFTC's expectations for new contract listings. We're taking on the responsibility of making sure there are transparent rules of the road for the asset class. Watch more on Squawk Box ⬇️📺
Mike Selig59,700 görüntüleme • 2 ay önce
The CFTC and U.S. Securities and Exchange Commission’s framework lays out a clear and simple road map for any company that wants to sell a crypto asset to raise capital, what their securities law obligations are, and the status of the crypto asset. As we work to create future-proof legislation, our interpretation is intended to help in the interim.
Mike Selig52,816 görüntüleme • 2 ay önce
As Chairman of the CFTC, I am committed to policing and prohibiting manipulation in our markets. Whether the underlying is sports, politics, or grains, we take our role as the federal regulator seriously. Under my leadership, there is no tolerance for bad actors in our markets. New York Post
Mike Selig38,094 görüntüleme • 1 ay önce
We're going to be setting very clear standards as to the types of prediction markets that can be self-certified in our markets. We’re also planning to move forward with an advanced notice of proposed rulemaking in the near future that will set the stage for more fulsome prediction markets rulemaking.
Mike Selig48,769 görüntüleme • 3 ay önce
Crypto, AI and prediction markets are transformative and synergistic technologies. It’s critical that our laws and regulations accommodate the innovators and job makers in these industries, like Anthony Pompliano 🌪, who is an entrepreneur and investor himself. The CFTC will develop fit-for-purpose rules so these technologies can flourish on US soil.
Mike Selig31,815 görüntüleme • 2 ay önce
The Biden administration drove crypto asset firms and liquidity offshore, including the perpetual futures markets. We've had perpetual futures in crypto assets for a very long time, but they've developed offshore. We've got to bring perpetual futures back to the US and are working towards getting them here soon. Watch⬇️
Mike Selig25,075 görüntüleme • 3 ay önce
Current financial systems are outdated, and blockchain networks are exactly what we need to bring it into the 21st century. Decentralized applications and systems will help America return to the era of creativity and endless possibility, and under my leadership at the CFTC, we’re committed to turning that into reality.
Mike Selig19,002 görüntüleme • 2 ay önce
Event contracts listed on CFTC-registered exchanges are derivatives subject to the CFTC’s exclusive regulatory authority. Whether the contract’s underlying event is sports, politics, corn, or grain, it trades on a federally-regulated exchange with an order book, clearing house, and investor protections. Watch more from House Committee on Agriculture yesterday ⬇️
Mike Selig12,147 görüntüleme • 1 ay önce