Unchained Bits + Bips: What CFTC Oversight Could Mean For Crypto As Trump's Chair Pick Crosses Key Senate Hurdle - Ep. 957
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Nov 22, 2025 
J. Christopher Giancarlo, former chairman of the CFTC and expert in digital assets policy, joins to discuss Mike Selig's nomination for chair. He emphasizes the need for increased resources at the CFTC to effectively regulate crypto. Giancarlo explains the unique aspects of crypto's commodity trading structure and debates whether exchanges should operate multiple functions. He also shares insights on the Clarity Act's prospects and the regulatory landscape for prediction markets, highlighting their societal value.
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Long Professional Mentor Relationship
- Christopher Giancarlo recruited Mike Selig into his practice after seeing him as an intern and later brought him into Wilkie Farr & Gallagher.
- Giancarlo praised Selig's decade-long CFTC expertise and broad support across agricultural groups and the crypto community.
CFTC Needs More Resources
- Giancarlo says the CFTC needs more resources to oversee crypto and the Clarity Act could add up to $150 million.
- He believes industry fees to fund oversight are fair and would make crypto regulation more sustainable.
Spot Crypto Calls For Federal Rules
- Crypto spot markets are national and differ from traditional state-level commodity spots, making federal oversight logical.
- Giancarlo expects the CFTC to borrow its durable futures-regulatory model to cover spot crypto markets.