US President Donald Trump is increasingly strengthening his pro-crypto stance by including like-minded cryptocurrency figures in his administration.
One of these names is undoubtedly CFTC Chairman Michael Selig. Known for his stance on Bitcoin and cryptocurrencies, Michael Selig made some important statements.
At this point, Selig gave one of the clearest signals yet about the US perspective on Bitcoin (BTC) and crypto assets.
Speaking with Mark Moss on the Market Disruptors Podcast, Selig said the likelihood of the United States banning Bitcoin is now very low.
The CFTC chairman argues that private property rights remain a fundamental American principle, and that these protections should also apply to personal wallets and crypto assets like Bitcoin.
“I think we need to protect Bitcoin and crypto assets here and create a space where they can thrive. A future-proof, secure space: a space where the government can’t come and seize people’s crypto assets and Bitcoins.”
The US Will Not Ban Bitcoin!
Continuing his speech, Selig, who described Donald Trump as the “crypto president,” said that Trump and the White House were actively involved in creating a long-term and sustainable cryptocurrency roadmap for the country.
Selig, who cited the launch of regulated Bitcoin futures during Trump’s previous administration as a significant milestone for institutional adoption, now emphasizes that the White House supports legislation such as the Genius Act and the Clarity Act for broader cryptocurrency regulation.
Finally, addressing the issue of the US National Strategic Bitcoin Reserve, the CFTC chairman stated that an announcement regarding the reserve is imminent, while the likelihood of a Bitcoin ban is very low.
As you may recall, White House crypto adviser Patrick Witt recently stated that new announcements regarding a reserve and a broader stock of digital assets could be coming in the next few weeks.
*This is not investment advice.