The U.S. Senate Approves Trump's Nominees for CFTC and FDIC Chair Positions

BlockBeats News, December 19th, the U.S. Senate approved the nomination of Mike Selig to lead the U.S. Commodity Futures Trading Commission (CFTC) and Travis Hill to lead the U.S. Federal Deposit Insurance Corporation (FDIC), both of which appointments will have a significant impact on the cryptocurrency field.

The U.S. Commodity Futures Trading Commission (CFTC) is expected to become a key regulatory agency for U.S. cryptocurrency activities, especially as Congress completes legislative work to provide this derivatives regulator with more specific cryptocurrency regulatory powers. After being sworn in, Selig will replace Acting Chairman Caroline Pham, who has led a series of cryptocurrency-friendly policy initiatives during her tenure as Acting Chairman.