Senate Confirms New Leadership At CFTC & FDIC With Pro-crypto Outlook

The U.S. Senate has confirmed Mike Selig and Travis Hill as the new chairs of the Commodity Futures Trading Commission and the Federal Deposit Insurance Corp, respectively. The 53–43 vote brings permanent leadership to two major financial regulators at a time when crypto oversight is expanding.

The CFTC is increasingly positioned as a central regulator for digital assets, especially if Congress finalizes legislation granting it broader authority over crypto spot markets. Selig, who previously worked on crypto policy at the SEC, is expected to advance initiatives such as stablecoin use in tokenized collateral and embedding blockchain terminology into agency rules.

However, Selig will initially serve as the sole commissioner, raising questions about governance and legal robustness. His appointment comes as Congress continues work on a major crypto market structure bill, which has already passed the House and is still under debate in the Senate.

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