Senate banking panel advances Trump’s FDIC pick Travis Hill as agency shifts its crypto approach

The Senate Banking Committee voted 13-11 on Wednesday to advance Travis Hill’s nomination to chair the Federal Deposit Insurance Corporation (FDIC). The full Senate will now vote on his confirmation. Hill, currently the acting chair, has signaled a shift in the agency’s approach to digital assets, focusing on reducing the use of “reputational risk” as a barrier to crypto firms accessing financial services. He has taken steps to address concerns raised by the crypto industry regarding access to key financial services. During a previous hearing, Senator John Kennedy expressed concerns about the FDIC’s handling of workplace issues and requested a report on progress, which he received and found satisfactory, leading him to confirm his support for Hill’s nomination.

(Source：The Block)