The US Senate has confirmed Mike Selig as chairman of the Commodity Futures Trading Commission and Travis Hill as chairman of the Federal Deposit Insurance Corporation in a single package vote.
Lawmakers approved the confirmations by a 53–43 margin as part of a broader resolution covering dozens of federal nominees.
The appointments mark a significant milestone for President Donald Trump as his second administration secures permanent leadership at major financial watchdogs.
The CFTC is expected to play a growing role in overseeing US cryptocurrency markets, particularly if Congress expands its authority over spot crypto trading.
Selig will replace Acting Chair Caroline Pham, who has overseen a series of crypto-friendly initiatives while awaiting a permanent successor.
Pham has indicated she will step down once Selig is sworn in, leaving him initially as the sole member of the five-seat CFTC commission.
This unusual situation could allow faster policy decisions but may raise questions about governance and legal robustness.
Before his appointment, Selig worked on digital asset policy while serving as an official at the Securities and Exchange Commission.
Ongoing CFTC initiatives include integrating blockchain concepts into regulatory language and exploring stablecoins as tokenised collateral.
The agency has also encouraged regulated platforms to develop spot leveraged crypto products, with Bitnomial leading early efforts.
Congressional negotiations continue over legislation that would grant the CFTC explicit authority over broader crypto spot markets.
The bill has already passed the House of Representatives and is now under consideration in the Senate.
At the FDIC, Hill has been serving as acting chairman and has already shaped a more accommodating stance towards the crypto sector.
We undid the policy of the past few years, Hill said, referring to earlier requirements for banks to seek approval before engaging in crypto-related activity.
Banks are expected to manage the safety and soundness risk, but otherwise have no prohibitions to serving those industries, Hill added.
He has also addressed industry concerns over so-called debanking, where financial institutions cut ties with crypto firms.
The confirmations fill two of the most prominent gaps in US crypto oversight left during Trump’s second term.
Republicans used a mass-confirmation strategy, bundling nearly 100 nominees into one resolution to speed up Senate approvals.