🛡 CFTC Chair Selig appoints cryptocurrency attorney as senior advisor

📊 Michael Selig has appointed two senior advisors at the CFTC, including Michael Pasalacqua, who previously aided in preparing a law firm letter that led to the SEC receiving a no-action letter regarding crypto custodians.

💼 Pasalacqua's experience includes serving as deputy general counsel at a capital markets cryptocurrency firm, where he advised on regulatory and transactional issues related to crypto assets.

⚖️ This move comes as the CFTC is preparing to expand its regulatory role in the digital asset market, aligning with current legislative efforts to broaden its authority.

📅 Selig's statement indicates a proactive approach to ensuring the CFTC's regulatory foundation amid changing regulations in the crypto sphere.

🛠 The CFTC is currently operating with Selig as the sole commissioner following significant leadership changes, raising questions about future appointments.