CFTC Chair Mike Selig laid out his agency's top priorities for the coming years at the FIA Global Clearing Markets Conference, with three core directives: opening true crypto perpetual futures within weeks, ending the jurisdictional battle with the SEC, and creating a gold standard for prediction market regulation.
Crypto Perpetual Futures in Weeks
Selig identified crypto perpetual futures as a top policy goal. The CFTC is pushing to allow "genuine perpetual contracts — not long-dated futures" on U.S. soil, with a policy framework expected within weeks. These contracts have historically thrived in offshore markets due to U.S. regulatory ambiguity, funneling liquidity to exchanges in Asia, Europe, and the Bahamas. Selig aims to repatriate that liquidity and solidify the policy through formal rulemaking.
Ending the CFTC-SEC Turf War
Selig explicitly committed to ending the long-standing jurisdictional dispute between the CFTC and the SEC, as well as the practice of "regulation by enforcement." The two regulators have clashed for years over which digital assets count as securities versus commodities, leaving firms in limbo. This aligns with SEC Chair Paul Atkins' "Project Crypto" initiative — both agencies are now working on joint statements and coordination mechanisms to unify product definitions, reporting formats, and capital requirements.
Full Policy Agenda
Beyond crypto, Selig outlined a broader list: cleaning up leftover Dodd-Frank rules; establishing a gold standard for prediction markets; making the U.S. a leader in AI computing; refocusing the commission on its core duties, away from climate policy; prioritizing agricultural and energy communities; and bringing critical minerals markets back to the U.S.
The overarching message is clear: Selig wants the CFTC to return to its role as a "market facilitator," reduce political distractions, and replace vague enforcement with clear rules. For the crypto industry, the opening of perpetual futures and the resolution of the CFTC-SEC turf war are the most immediate positive signals.