- Mike Selig is set to take over for Acting Chair Caroline Pham at the CFTC upon confirmation.
- The CFTC has broadened its crypto oversight through collateral approvals and spot trading permissions.
- Travis Hill’s confirmation would formalize his interim role at the FDIC and advance crypto-friendly banking policies.
Crypto regulation in the U.S. is entering a more defined stage as Senate activities bring essential financial regulatory appointments closer to realization.
Two regulatory bodies that significantly impact digital assets, the Commodity Futures Trading Commission and the Federal Deposit Insurance Corp., are approaching formal leadership transitions, according to a CoinDesk report.
President Donald Trump’s nominees for the leadership of both agencies have progressed through the Senate confirmation process, signaling potential changes in the regulation of crypto markets and related banking.
Though final votes are pending, recent events indicate that decisions are nearing, clarifying the regulatory outlook.
Senate prepares for final votes
The Senate advanced the confirmation process on Thursday by passing a resolution that sets the stage for final votes.
The resolution passed with a 52–47 vote and encompasses a significant group of nominees being considered collectively, as reported by CoinDesk.
Mike Selig, nominated to lead the CFTC, and Travis Hill, nominated for the FDIC chair, are included in this group.
A representative of Senate Majority Whip John Barrasso announced on X that the final vote is anticipated early next week, although confirmation of the nominees may still be days away.
Republicans in the Senate are using a strategy of voting on a series of nominations in batches, rather than one at a time. In this instance, lawmakers are addressing 97 confirmation matters simultaneously.
Selig and Hill are just two of these positions, both of which hold significant weight for the crypto industry.
This approach has expedited confirmations but may also reduce scrutiny on individual nominees.
CFTC aims for crypto regulation leadership
Selig currently holds a senior role at the Securities and Exchange Commission, where he has focused on crypto-related issues.
If confirmed, he would succeed Acting Chair Caroline Pham, who has led the CFTC through multiple initiatives viewed as supportive of digital asset markets.
Under Pham’s direction, the CFTC has established itself as an active participant in crypto regulation, even as Congress debates broader market structure laws.
The agency is widely expected to assume a leading role in crypto regulation should lawmakers pass a bill that formally designates authority.
Even in the absence of new legislation, the CFTC has already expanded its jurisdiction.
It has formed a CEO council to advise on policy matters, approved the use of Bitcoin BTC $92,157.53, Ether ETH $3,237.28, and USDC along with other payment stablecoins as collateral, and permitted registered firms to offer spot crypto trading services.
These initiatives have further integrated crypto into regulated financial transactions.
FDIC’s banking perspective gains visibility
At the FDIC, Hill has already served in an interim capacity, making his confirmation a formalization of his existing role, as noted by CoinDesk.
During his interim leadership, Hill has implemented policies that suggest a more welcoming approach to crypto banking.
This includes collaboration with banks serving digital asset companies, an area that has historically faced ambiguity due to regulatory caution.
Regulatory framework begins to unify
Together, the impending confirmations indicate a movement toward a more cohesive regulatory framework for crypto in the U.S.
With leadership at both the CFTC and FDIC nearing finalization, oversight of crypto markets and crypto-related banking could soon operate under clearer and more coherent regulation.
