Senate Confirms Crypto-Friendly Regulators to Oversee CFTC and FDIC
The US Senate solidified Washington's shifting stance on digital assets Thursday, confirming Mike Selig as CFTC chairman and Travis Hill as FDIC chair in a 53-43 vote. Both regulators arrive with reputations for crypto-forward policymaking at a pivotal moment for industry oversight.
Selig brings rare dual experience from both the CFTC and SEC trenches. His October pledge to prioritize cryptocurrency regulation now carries the weight of a confirmed chairman's mandate. The appointment comes as the derivatives regulator operates with just one commissioner following multiple resignations.
Hill assumes leadership of the deposit insurance agency after serving as acting chair, where he notably pushed back against alleged debanking of crypto firms. Their confirmations were bundled with nearly 100 Trump administration nominations in a single legislative package.
