Prospective CFTC chair’s nomination advances through committee

U.S. Senators have released a bipartisan draft that outlines a comprehensive framework for cryptocurrency policy and federal market structure. This initiative aims to establish clear regulations for the cryptocurrency market, addressing the need for oversight and clarity in a rapidly evolving financial landscape.

Industry groups have sent a letter to President Donald Trump advocating for new tax policies and agency actions on cryptocurrency initiatives, emphasizing the need for progress amid Congressional uncertainty regarding market structure work.

Kalshi, a CFTC-regulated exchange, has successfully raised $1 billion in funding, achieving a valuation of $11 billion. This positions Kalshi as a strong competitor to crypto-native Polymarket by offering event contracts with fiat access and legal clarity.

The Senate Agriculture Committee voted to advance Mike Selig's nomination for the Commodity Futures Trading Commission (CFTC) chair position, following his confirmation hearing. This quick vote indicates a positive step toward his final confirmation by the full Senate.

World Liberty Financial (WLFI), a cryptocurrency project associated with Donald Trump and his family, reported a security breach in September, which has now been publicly acknowledged. The breach led to the freezing of some user accounts, raising concerns about the project's security and integrity.

The Democratic party's recent crackdown on cryptocurrency, led by Senator Elizabeth Warren, poses potential risks for the decentralized exchange Hyperliquid (HYPE). The scrutiny is linked to concerns regarding crypto ventures associated with Donald Trump's family, particularly World Liberty Financial (WLFI). This situation raises alarms about the future of Hyperliquid amid increasing regulatory pressures.

Michael Selig, the prospective chair of the Commodity Futures Trading Commission (CFTC), expressed support for regulatory oversight in digital asset markets during his nomination hearing. He emphasized the importance of having a regulatory 'cop on the beat' to ensure proper governance in the DeFi sector.

Michael Selig, the prospective chair of the Commodity Futures Trading Commission (CFTC), expressed his support for regulatory oversight in digital asset markets during his nomination hearing. He emphasized the necessity of having a regulatory 'cop on the beat' to ensure proper governance in the rapidly evolving DeFi sector.