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The U.S. crypto regulatory landscape is poised for major shifts as President Donald Trump’s nominees for top financial oversight roles move closer to final Senate confirmation. Both the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corp. (FDIC) are expected to play significant roles in shaping U.S. crypto policy, and the approval of new leadership could accelerate regulatory changes.
Following a 52-47 procedural vote on Thursday, Mike Selig is now just one step away from becoming chairman of the CFTC, while Travis Hill is nearing confirmation as the official head of the FDIC. A spokesperson for Senate Majority Whip John Barrasso said the final vote will likely take place early next week. These confirmations are part of a broader Republican strategy pushing dozens of Trump nominees forward at once, with 97 total confirmation questions being considered.
Selig, currently a senior SEC official focused on digital assets, would replace Acting Chair Caroline Pham. Pham has championed a number of crypto-friendly policies, and Selig is expected to further strengthen the CFTC’s role in digital asset oversight. The agency is anticipated to gain even more authority if Congress passes a long-discussed crypto market structure bill. Even without new legislation, the CFTC has expanded its involvement in the sector, establishing a CEO advisory council, approving the use of Bitcoin, Ether and USDC as collateral, and allowing registered firms to offer spot crypto trading services.
Hill, who has already been serving as interim FDIC chairman, is also seen as supportive of crypto-positive banking policies. His formal confirmation would solidify that direction at a time when the banking sector’s relationship with digital assets remains a crucial regulatory issue.
With both nominees nearing confirmation, the U.S. may soon see a more clearly defined and potentially more supportive federal stance on cryptocurrency oversight.
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