CFTC Chair Mike Selig Says Agency Will Protect Crypto Users’ Right to Self-Custody

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Mike Selig, chair of the U.S. Commodity Futures Trading Commission, said the agency will protect cryptocurrency users’ right to self-custody. He also emphasized that it will ensure the safety of assets held with trusted third-party custodians.

Cointelegraph reported on Oct. 8 that Selig said the CFTC is committed to protecting the right of crypto users to hold and manage their assets directly.

He added that while safeguarding users’ right to self-custody, the agency must also protect assets held by trusted third-party custodians.

The CFTC’s policy is to protect user assets under both self-custody and third-party custody models.