Senate approves Trump’s pro-crypto picks to lead CFTC and FDIC
The Senate confirmed Michael Selig and Travis Hill, who hold pro-crypto views, to lead the CFTC and FDIC.Summary
The Senate confirmed Michael Selig to chair the Commodity Futures Trading Commission (CFTC) and Travis Hill to chair the Federal Deposit Insurance Corp. (FDIC). Both appointees are known for their pro-crypto stances and advocacy for regulatory clarity in digital assets. Selig, who previously served as chief counsel to the SEC’s crypto task force under President Trump, is expected to enhance coordination between the SEC and CFTC as the latter faces potential expanded authority over digital asset markets. Hill, serving as interim chair since 2023, has already worked to relax capital rules and soften the FDIC's stance on crypto-related banking risks, including planning to unwind certain Biden administration initiatives like proposed restrictions on brokered deposits.
(Source：Crypto Briefing)