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

[The U.S. Senate Approaches Final Vote on CFTC and FDIC Crypto Regulators] The U.S. Senate has taken a key step in confirming the nominations of the Chairman of 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 potentially take place early next week. Selig previously handled crypto affairs at the SEC and will succeed interim Chair Caroline Pham; the CFTC is expected to play a central role in U.S. crypto regulation. Hill, currently serving as acting FDIC head, will have his position officially confirmed and continue to promote friendly crypto banking policies.