WASHINGTON--The Senate on Thursday confirmed Mike Selig to lead the Commodity Futures Trading Commission and Travis Hill as chairman of the Federal Deposit Insurance Corp., approving the nominations as part of a broader package of nearly 100 executive branch nominees by a 53–43 vote.
Selig, who succeeds Acting Chair Caroline Pham, will take the helm of the CFTC as Congress continues work on legislation that could expand the agency’s authority over cryptocurrency markets, positioning the derivatives regulator as a central federal watchdog for digital assets, Benzinga noted.
Hill, who had been serving as the FDIC’s acting chairman, now assumes the role on a permanent basis. His leadership is expected to shape federal oversight of banks’ involvement with crypto firms and stablecoin issuers, an area where he has already signaled a more permissive regulatory approach.