CFTC Chairman Mike Selig Ties New Crypto Rules to the FTX Collapse

Mike Selig cited FTX’s $8 billion customer losses as evidence for stronger federal safeguards in crypto markets. The CFTC’s proposed framework targets leveraged and margined retail crypto trading, with registration and customer protections. Proposed rules include segregated customer funds, proof-of-reserves requirements, anti-manipulation controls and FCM involvement. CFTC Chairman Mike Selig said crypto markets need federal safeguards that protect customer funds, citing FTX’s 2022 collapse as a warning. Speaking at the Fordham Law Blockchain Regulatory Symposium on Oct. 5, 2026, Selig said the agency wants protections used in federally regulated futures markets for crypto spot trading.

Source: Crypto Front News