U.S. Senate Advances Confirmation Votes for Key Financial Regulators

According to ChainCatcher, the U.S. Senate is moving forward with confirmation votes for two key financial regulatory nominees proposed by U.S. President Donald Trump. Mike Selig is set to become the Chairman of the Commodity Futures Trading Commission (CFTC), while Travis Hill is expected to officially assume the role of Chairman of the Federal Deposit Insurance Corporation (FDIC). Both nominees are considered to be crypto-friendly and are anticipated to play significant roles in the regulation of the U.S. cryptocurrency market. Upon taking office, Selig will be the sole commissioner of the CFTC and will lead the execution of crypto regulatory legislation. Hill, on the other hand, has emphasized the need to lift previous government restrictions on banks engaging in crypto-related activities and to address the issue of 'de-banking.'