The U.S. Senate has confirmed Mike Selig as Chairman of the Commodity Futures Trading Commission (CFTC), a key Vai in regulating cryptocurrencies.
The move comes as the Senate confirms a series of President Trump's nominations, including for regulatory positions. On the same day, Travis Hill was also confirmed as the head of the Federal Deposit Insurance Corporation (FDIC).
- The U.S. Senate has confirmed Mike Selig as Chairman of the CFTC.
- Travis Hill has been confirmed to head the FDIC.
- Selig succeeds acting chair Caroline Pham, who spearheaded the cryptocurrency agenda.
The CFTC has a new chairman: direct impact on the cryptocurrency regulatory framework.
Mike Selig has been confirmed by the US Senate to head the CFTC and will play a leading Vai in regulating cryptocurrencies.
The confirmation came on Thursday, as the Senate began confirming numerous nominations for President Trump, including those for key regulatory Vai in the cryptocurrency sector. The CFTC is the agency that oversees commodity Derivative markets, where many cryptocurrency-related products are monitored and regulated.
Selig will succeed acting Chair Caroline Pham. During the period without an official chair, Pham was described as having pushed an aggressive cryptocurrency policy agenda, setting the stage for the transition period when the new head takes office.
FDIC changes leadership in the same approval round.
The Senate also confirmed Travis Hill as head of the FDIC.
The FDIC is the federal agency responsible for deposit insurance. This appointment coincides with other nominations being processed, suggesting that changes in financial management personnel are occurring concurrently with positions related to cryptocurrency policy.
