2026-01-21 01:22:07

A key personnel move was announced on January 21st — the Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Michael Selig, appointed seasoned crypto attorney Michael Passalacqua as Senior Advisor. This guy’s litigation experience in cryptocurrency and blockchain cases is no joke, with a solid background.

What has this brother done before? Participated in drafting a crucial letter that directly led to the SEC issuing a no-action letter, allowing state-chartered trust companies to legally serve as custodians of crypto assets. This seemingly simple document actually opened the door to systemic change.

Why is this appointment noteworthy? The background is clear — the CFTC’s influence in cryptocurrency regulation is growing stronger. Appointing a genuinely skilled expert in the crypto field as Senior Advisor sends a clear signal: regulatory agencies are adjusting their approach, striving to keep the rule system "up to date."

In plain terms, this is not just an ordinary personnel change but a microcosm of the regulatory framework adapting to industry development. The improvement of trust mechanisms and compliant custody infrastructure is accelerating the institutionalization process of the Web3 ecosystem.

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rugpull_survivor

· 5h ago

Signs of regulatory easing are becoming increasingly obvious, and this guy seems to be about to decentralize power once he takes office. Now there's hope for compliant custody; the previous trust issues are finally going to be resolved. Another "keeping up with the times," just listen and don't take it seriously. I just want to know if this time will really bring change or if it's just a paper effort. Institutionalization is a double-edged sword; regulation is good, but will it really lead to more freedom? This lawyer has a strong background; he can directly influence SEC decisions—impressive. Web3 is finally going to be "tamed." Not sure if it's a blessing or a curse. They talk about a regulatory framework adapting to development, but it looks more like they're trying to put shackles on it. The key is whether there will be actual actions afterward; just relying on individuals is useless. If this can truly promote the compliance of custody, institutional capital is likely to flood in.

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rekt_but_not_broke

· 9h ago

Wow, finally a knowledgeable person has joined the CFTC. Now the rules will be reshuffled. This guy's first move was the SEC's non-enforcement letter, directly granting trust companies legal status. Now he's going to the CFTC as an advisor? Clearly aiming to promote institutionalization. Regulatory agencies are finally listening to industry voices. It's not about imposing sky-high fines again—that's progress. The door to the system has opened, the custody infrastructure is in place, and now it depends on how exchanges will respond. Compliance is really not a constraint; rather, it's a moat. Now I finally understand.

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SchrodingerPrivateKey

· 9h ago

Damn, is this guy really coming? Passalacqua's move is probably going to stir up the regulatory circle. --- So, this is basically giving the green light for crypto custody. It's happening. --- Michael Selig's move is quite strategic, directly parachuting a crypto veteran as an advisor. --- Wow, finally someone knowledgeable is in, not just those bureaucrats who only talk tough. --- Just this appointment, the story that follows might be bigger than we imagined. --- Legalized compliant custody—this is the real infrastructure, brother. --- Wait, does this mean the CFTC is getting smarter? --- Honestly, this signal couldn't be clearer; regulatory attitudes are indeed loosening.

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consensus_failure

· 9h ago

Regulation is really starting to take it seriously, but whether this guy can truly push for reform still depends on subsequent actions. It's easy to write theoretical articles, but implementation is the real challenge.

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OldLeekConfession

· 9h ago

Wow, is regulation really changing? When Passalacqua's guy makes a move, it's always an action-avoidance letter. I know this routine well—it's like giving a green light for compliant custody.

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ruggedSoBadLMAO

· 9h ago

Wait a minute, can this guy really shake up the regulators' ideas? Feels still too optimistic --- It's "keeping up with the times" again, just listen and don't take it seriously, the regulator's sword is still the same sword --- Compliance for custodians is indeed a pain point in infrastructure, but it still feels a long way off --- CFTC's move is a bit interesting, but the real test is still to come --- Basically, it's the same rules told by different people, and the big picture remains the same --- If this appointment can truly promote the implementation of the custodial system, it would be a positive for small retail investors --- I just want to ask, what kind of achievements can this guy make at the SEC? Does he really have real power? --- Web3 institutionalization process? Ha, let's first solve the existing conflicts before talking --- Feels like they're giving the industry a morale boost, but after the shot, it still gets beaten --- Regulatory framework adapting to the industry? I think the industry is still adapting to regulation

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