US Senate confirms pro-crypto Selig to lead CFTC, Hill to head FDIC
The US Senate confirmed crypto-friendly Mike Selig to chair the CFTC and Travis Hill to head the FDIC.Summary
The US Senate confirmed crypto-friendly lawyer Mike Selig as the new chair of the Commodity Futures Trading Commission (CFTC) and elevated Travis Hill to chair the Federal Deposit Insurance Corp. (FDIC) as part of a package of nearly 100 nominees.
Selig, who has prior experience at both agencies, previously pledged to prioritize cryptocurrency issues. Hill, already the acting chairman, has advocated against the alleged "debanking" of crypto-related companies. These appointments are significant as the CFTC may soon receive broader crypto market oversight authority, and the FDIC will regulate stablecoin issuers and influence how the crypto industry is banked.
Industry leaders, including Coinbase's Faryar Shirzad and the Digital Chamber's Cody Carbone, expressed optimism, citing Selig's experience as ensuring fair and clear governance for the crypto market.
(Source：Cointelegraph)