This Commission That Regulates Crypto Could Be Just One Guy: An Industry Lawyer

CFTC nominee Mike Selig has served dozens of crypto clients ranging from venture capital firms to a bear-themed blockchain company based in the Cayman Islands, according to ethics records obtained by The Intercept.

Those records show the breadth of potential conflicts of interest for Selig, who, if confirmed, will serve on the CFTC alone due to an exodus of other commissioners.

With a Bitcoin crash wiping out a trillion dollars of value in the past few weeks, the industry is counting on friendly regulators in Washington to give it a boost.