TechFlow, Dec 19 — According to CoinDesk, the U.S. Senate confirmed Mike Selig as chair of the Commodity Futures Trading Commission (CFTC) and Travis Hill as chair of the Federal Deposit Insurance Corporation (FDIC) through a 53-43 vote on Thursday. Both are seen as regulators favorable toward the cryptocurrency industry.
Selig will succeed acting chair Caroline Pham, who has championed pro-crypto policies and plans to join crypto payment provider MoonPay as an executive after leaving office. The CFTC is actively advancing efforts to include stablecoins as tokenized collateral and integrate blockchain technology into regulatory frameworks, while encouraging regulated platforms to launch spot leveraged crypto products.
Hill, as FDIC acting chair, has expressed support for the crypto industry, stating during congressional hearings: "We've reversed the policies of the past few years," emphasizing that banks can serve the crypto sector if risks are properly managed, and committing to addressing the issue of "de-banking" faced by crypto firms.
