The U.S. Senate Approves Final Vote on CFTC and FDIC Crypto Regulators

Gold Financial reports that the U.S. Senate has taken a crucial step in confirming the nominees for the Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC). Trump-nominated CFTC Chairman Mike Selig and FDIC Chairman Travis Hill have passed a 52-47 procedural vote, paving the way for final confirmation. Senate Majority Leader expects the final vote to possibly take place early next week. Selig, who previously handled crypto affairs at the SEC, will succeed interim Chair Caroline Pham. The CFTC is expected to play a core role in U.S. crypto regulation. Hill currently serves as acting head of the FDIC; his confirmation will officially establish the position and continue to promote friendly crypto banking policies.