US Senate Confirms Crypto Friendly Leaders to Head CFTC and FDIC
The US Senate has confirmed Mike Selig as chair of the Commodity Futures Trading Commission (CFTC) and Travis Hill as chair of the Federal Deposit Insurance Corp (FDIC) in a 53-43 vote, part of a package of nearly 100 nominees. Selig, known for his crypto-friendly stance and previous experience at both the CFTC and SEC, will serve until April 2029 and intends to prioritize cryptocurrency regulation. With earlier resignations, Selig will be the sole CFTC commissioner. Hill, who has acted as FDIC chairman and also supports crypto innovation, will serve a five-year term and has addressed issues such as alleged debanking of crypto companies. Both agencies are expected to play significant roles in upcoming federal crypto regulation, including stablecoin oversight and possible expanded CFTC authority. Industry leaders have welcomed the appointments, citing the positive impact on clarity and fairness in US crypto regulation.
