The U.S. Senate has confirmed the appointments of two of President Donald Trump‘s nominees, who are expected to play vital roles in regulating the crypto sector.
Senate Confirms Crypto-Focused Regulators
The Senate confirmed Mike Selig as the head of the Commodity Futures Trading Commission (CFTC) and Travis Hill as the leader of the Federal Deposit Insurance Corp (FDIC) on Thursday.
Selig, who will succeed Acting Chairman Caroline Pham, is expected to play a crucial role as a crypto watchdog. The CFTC is likely to become a key regulator of U.S. crypto activity, particularly if Congress finalizes the legislative work to grant more specific crypto authority to the derivatives watchdog.
Hill, who has been serving as the acting chairman of the FDIC, will oversee stablecoin issuers and significantly impact the banking of the crypto industry. He has already taken …Full story available on Benzinga.com
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