[CFTC Acting Chair Caroline Pham Steps Down, Michael Selig Sworn in as the 16th Chair] According to an announcement on the official website of the Commodity Futures Trading Commission (CFTC), Acting Chair Caroline D. Pham has officially stepped down, with Michael Selig succeeding as the 16th Chair. Selig previously served on the SEC's Special Task Force on Crypto Assets, actively promoting legislation for digital asset market structure and advocating to 'end regulation by enforcement.' He stated that he will lead the CFTC in formulating 'common-sense' rules in the new era of financial innovation in the United States, aiming to help the U.S. become a global hub for crypto capital.