SEC Crypto Task Force Appoints New Chief Counsel

The U.S. Securities and Exchange Commission (SEC) has appointed Mike Selig as the chief counsel of its newly formed Crypto Task Force. Selig, previously a partner at Willkie Farr & Gallagher in New York and a member of the firm’s crypto practice, has a background that includes interning at the Commodity Futures Trading Commission (CFTC).

Former CFTC Chairman Chris Giancarlo, affectionately known as “CryptoDad,” congratulated Selig in a Monday post on X, expressing pride in his protege, who has been influential in shaping crypto regulations.

Last October, Selig wrote an op-ed for CoinDesk proposing ways for the SEC to shift from a “regulation by enforcement” approach to a framework fostering innovation. His recommendations, which included rescinding Staff Accounting Bulletin 121 and withdrawing from specific lawsuits, have already found traction with the Crypto Task Force.

Selig is part of a 14-member task force that includes individuals with deep ties to the crypto industry, such as Landon Zinda, formerly with the policy director of Coin Center, and Veronica Reynolds, an ex-attorney at Baker Hostetler focused on NFTs and metaverse legalities. Zinda was previously announced in February.

Commissioner Hester Peirce, the task force’s leader, stated, “The Crypto Task Force exhibits deep expertise and an enthusiastic commitment to identifying workable solutions to difficult crypto regulatory problems, in collaboration with other staff across the Commission and the public.”