Crypto Regulation: Just One Guy, Apparently Not Our Guy
Mainstream media signals an 'industry lawyer,' Mike Selig, could effectively be the Commodity Futures Trading Commission (CFTC) for cryptocurrency under a potential Trump administration. This isn't just a staffing shortage; it's a feature. Selig, linked to lobbying efforts for crypto firms (as reported by The Intercept), would bring the 'revolving door' directly into the regulatory chair. It's a
tale as old as time: industries don't just 'influence' policy; they often write it themselves, especially when the designated 'regulator' comes from their own ranks, fresh out of the lobbying trenches. So, the public gets the illusion of regulation, while the industry gets a trusted insider. One might call it self-regulation with extra steps, or perhaps, regulatory capture in its purest form. How
many times will we watch the wolf guard the cryptocurrency he just quit working for?