Key Highlights
- CTFC Chairman Michael S. Selig appointed David I. Miller to lead the agency’s enforcement division.
- The appointment comes as the agency prepares for a bigger role in regulating cryptocurrency and prediction markets
- Miller brings years of experience from both private law firms and government roles, including working on financial crime and digital asset cases.
The Commodity Futures Trading Commission announced on Monday that Chairman Michael S. Selig has appointed David I. Miller as the agency’s new Director of Enforcement in the United States, as the regulator prepares to take a bigger role in supervising cryptocurrency and other digital markets.
According to the release, Miller will lead the unit that investigates fraud, market manipulation, and illegal trading activities across commodities and digital asset markets. The appointment comes as lawmakers in Washington continue working on proposals that could give the CFTC broader authority over cryptocurrency and prediction markets.
In a statement, Miller said, “I am honored and thrilled to join the CFTC at this exciting and transformative time,” He added that he looks forward to supporting the agency’s mission to protect market integrity while encouraging innovation.
Miller experience from both government and private law
Before joining the agency, Miller worked in private practice as a litigation partner at Greenberg Traurig and Morgan Lewis, where his work covered commodities, securities, digital assets, and national security matters. He also represented clients in regulatory investigations involving financial markets. According to the agency, his experience includes handling complex civil and criminal cases across U.S. courts.
Miller also spent close to ten years in public service. He served as an assistant U.S. attorney in New York, where he worked on securities and commodities fraud cases. Earlier, he was a terrorism prosecutor at the United States Department of Justice and later worked as an assistant general counsel for the Central Intelligence Agency.
Chairman Selig said Miller’s background makes him a strong fit for the position. He explained that the enforcement division must stay focused on “policing fraud, abuse, and manipulation rather than setting policy.” The agency also thanked Paul Hayeck, who had been serving as acting enforcement director since June 2025, and confirmed he will continue leading the complex fraud task force.
Recent regulatory changes
The appointment comes during a period of change across financial regulators. According to a recent report from Barrons, the agency’s Chicago enforcement office recently saw several retirements and staff reductions. Many experienced attorneys left the agency, which temporarily left the office with fewer people to handle investigations and enforcement actions.
At the same time, the Securities and Exchange Commission has also faced questions from lawmakers and the public about whether it is taking enough enforcement action, especially in digital asset markets.
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