The U.S. Securities and Exchange Commission (SEC) has appointed a crypto lawyer, Mike Selig, as the new chief counsel of its Crypto Task Force. Selig, previously a partner at international law firm Willkie Farr & Gallagher, brings extensive experience in the crypto practice. He also interned for the Commodity Futures Trading Commission (CFTC) in the past.
Former CFTC Chairman Chris Giancarlo, known as “CryptoDad,” congratulated Selig on his appointment in a post. Giancarlo, who is now senior counsel at Wilkie Farr, leads the firm’s Digital Works practice.
In an op-ed for CoinDesk, Selig outlined his suggestions for the SEC to foster innovation and move away from “regulation by enforcement.” The new Crypto Task Force has already implemented some of Selig’s recommendations, including the rescission of the controversial Staff Accounting Bulletin 121 and withdrawal from certain lawsuits.
Selig is one of the 14 staff members announced for the task force. The team includes crypto industry experts like Landon Zinda, former policy director at Coin Center, and Veronica Reynolds, a former attorney specializing in NFTs and metaverse-related legal issues. These appointments demonstrate the task force’s commitment to finding practical solutions to complex crypto regulatory challenges.
Commissioner Hester Peirce, the leader of the task force, expressed confidence in the team’s expertise and dedication to addressing crypto regulatory issues with the help of other SEC staff and public input.
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This is a fascinating post! It’s great to see the SEC recognizing the importance of having someone with a strong background in cryptocurrency and blockchain technology on their task force. I’m curious to know how this lawyer’s expertise will help shape the regulations and policies surrounding the crypto industry.