In a strategic move signaling its evolving stance on digital assets, the U.S. Securities and Exchange Commission (SEC) has appointed two new senior officials with direct experience in the crypto industry. Jamie Selway, former head of institutional markets at Blockchain.com, will become Director of Trading and Markets. During his 2018–2019 tenure at the exchange, Selway led efforts to bridge the gap between crypto and traditional finance.
Joining him is Brian Daly, previously a partner at Washington D.C. law firm Akin Gump. Daly has advised clients on crypto fund structures and regulatory strategy, particularly in navigating digital asset compliance. He will now serve as Director of Investment Management.
“I’ve long respected and appreciated the SEC’s commitment to regulatory oversight while advising clients on compliance and providing public comment from the investment management point of view during agency rulemaking,” Daly noted in a statement.
The appointments come as the SEC continues to dismantle key Biden-era proposals, especially those targeting decentralized finance (DeFi) and crypto custody—moves that reflect a more innovation-forward approach under new Chair Paul Atkins.
Staff Changes Align with Crypto Oversight Reform Push
The new appointments at the SEC arrive just as lawmakers push forward with the CLARITY Act—a bill aimed at defining regulatory authority between the SEC and the Commodity Futures Trading Commission (CFTC). The legislation, which recently passed a committee vote, is expected to reach the House floor soon.
At the same time, the SEC is shedding more than a dozen rules introduced between 2022 and 2023 under former Chair Gary Gensler. These included controversial attempts to redefine the term “exchange” to include DeFi platforms and to tighten crypto custody requirements for investment advisers.
Together, these developments suggest a significant recalibration of how the U.S. government views and intends to regulate digital assets.
Leadership Gaps Persist Across U.S. Market Watchdogs
Despite the SEC’s internal reorganization and the appointment of Paul Atkins as Chair, the agency still faces staffing shortages that could hinder its ability to respond to rapid crypto market developments. As of June, one commissioner seat remains vacant, with no formal nomination from President Donald Trump. Commissioner Caroline Crenshaw, whose term ended in June 2024, continues to serve under holdover provisions allowing up to 18 months post-term service.
The situation is even more strained at the CFTC, which has three open commissioner seats following the departures of former Chair Rostin Behnam and Commissioners Christy Goldsmith Romero and Summer Mersinger. While Trump has nominated former CFTC Commissioner Brian Quintenz to return as Chair, no further appointments have been announced.
These leadership gaps raise questions about how effectively U.S. regulators can keep pace with fast-moving shifts in the digital asset space.
Quick Facts
- Jamie Selway named SEC’s Director of Trading and Markets
- Brian Daly to lead SEC’s Investment Management division
- SEC repeals Gensler-era rules on DeFi and custody
- CLARITY Act advances to clarify SEC-CFTC crypto roles
- Leadership shortages remain at both SEC and CFTC
