The US Senate has officially confirmed crypto-focused lawyer Mike Selig as the new CFTC crypto chair, following a tightly split 53-43 vote. The decision, which also elevated Travis Hill to lead the FDIC, was part of a large package of nominations approved this week.
According to ">@SenateCloakroom on X, the en bloc confirmation vote passed 53-43 “under S.Res.532,” finalizing dozens of federal appointments. This confirmation puts two openly crypto-friendly regulators at the top of major US agencies.
Crypto Optimism Hits Washington
Selig, previously with the CFTC and SEC, promised to prioritize crypto market rules upon his nomination in October. According to the detailed coverage on CoinMarketCap’s community article, his appointment signals a potential boost to US digital asset policy clarity.
Hill, now officially chairing the FDIC, had already served as acting head. He has defended banks that maintain ties with crypto companies and criticized what he called “debanking” of the sector.
On X, ">Faryar Shirzad, the chief policy officer at Coinbase, wrote that Selig’s background “ensures America’s crypto markets get clear, fair governance.” His statement echoed growing optimism across the industry over consistent regulation.
Why This Vote Changes Everything
Industry analysts noted this confirmation may realign crypto regulation boundaries. A bipartisan Senate bill introduced last month seeks to grant the CFTC direct authority over digital assets, shifting responsibilities from the SEC.
With Selig in charge until April 2029, the CFTC could soon lead crypto oversight. Acting chair Caroline Pham, who plans to depart for MoonPay, will formally hand over the reins once Selig is sworn in.
Hill will serve a five-year term through 2030, continuing the FDIC’s expanding role in stablecoin and crypto banking regulation. Earlier this year, Martin Gruenberg’s resignation opened the position as the transition to a new administration concluded.
Crypto policy groups welcomed the confirmations. On X,"> Cody Carbone of the Digital Chamber described Selig’s appointment as “a technical win,” noting his experience in handling complex crypto laws. The signals point to a reshaping of financial rulemaking with digital assets now at the center.
Both agencies—CFTC and FDIC—are expected to work closely on overlapping regulations. The balance between enforcement and innovation will test Selig’s leadership early in his tenure, especially as crypto market rules take form under congressional oversight.
