US Senate Confirms Two Pro-Crypto Picks to Lead the CFTC and FDIC
The US Senate has confirmed two pro-crypto figures to lead the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC), signaling a potential shift toward more crypto-friendly regulation. Analysts suggest this could usher in an era of financial innovation, though concerns linger about regulatory overreach.
Mike Selig, a former SEC lawyer, will helm the CFTC at a time when the agency is understaffed, granting him significant latitude to shape policy. His early agenda includes integrating stablecoins into tokenized financial products. Meanwhile, Travis Hill at the FDIC has criticized restrictive banking policies, arguing that existing rules do not prohibit banks from engaging with crypto firms—provided they manage risks appropriately.
