- The US Senate voted 53-43 to confirm Mike Selig as chair of the Commodity Futures Trading Commission (CFTC) and Travis Hill as chair of the Federal Deposit Insurance Corp (FDIC).
- Both nominees, selected by President Donald Trump, are viewed as supportive of cryptocurrency, with Selig pledging to prioritize digital assets and Hill addressing debanking concerns.
- The appointments could enhance regulatory clarity for crypto, including oversight of derivatives and stablecoins, amid pending legislation.
TThe US Senate has confirmed two key regulators with pro-crypto leanings, marking a potential shift in the oversight of digital assets under the incoming Trump administration.
On Thursday, December 18, 2025, lawmakers approved Mike Selig to lead the Commodity Futures Trading Commission (CFTC) and Travis Hill to head the Federal Deposit Insurance Corp (FDIC) in a 53-43 vote. The confirmations were part of a broader package of nominees.
Selig, a lawyer with prior experience at the CFTC and the Securities and Exchange Commission (SEC), succeeds Acting Chair Caroline Pham. He has committed to making cryptocurrency a priority, stating he will “work tirelessly to make the US the global crypto capital.” His term extends until April 2029.
Hill, who has been serving as acting FDIC chair, has taken steps to ease restrictions on banks engaging with crypto firms. In a recent hearing, he noted, “We undid the policy of the past few years. Banks are expected to manage the safety and soundness risk, but otherwise have no prohibitions to serving those industries.” Hill’s term runs through 2030.
The CFTC is poised to play a larger role in crypto regulation, particularly if a bipartisan Senate bill introduced in November passes, shifting primary oversight from the SEC. This could include expanded authority over spot trading of assets like Bitcoin (BTC) and Ethereum (ETH). Meanwhile, the FDIC will continue regulating stablecoin issuers and addressing banking access for the industry. (FXStreet)
Industry leaders welcomed the news. Coinbase‘s chief policy officer, Faryar Shirzad, posted on X that Selig’s “experience in crypto and as a federal regulator will ensure that America’s crypto market is governed with fairness, clarity and an abiding commitment to the law.”
These appointments come as the crypto sector seeks greater clarity amid ongoing debates over regulation. While supportive, they also highlight potential risks, such as ensuring consumer protection in volatile markets.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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