US Senate Confirms Two Pro-Crypto Picks to Lead the CFTC and FDIC

The US crypto market is about to change face. We are referring to two pro-crypto figures who have just taken the head of the CFTC and the FDIC. A decision that heralds a more conciliatory era according to some analysts. Others, however, are worried about excessive permissiveness.

A pro-crypto shift at the heart of regulatory authorities

The US Senate has just confirmed the nominations of Mike Selig and Travis Hill at the head of two pillars of crypto regulation: the CFTC and the FDIC. Their common point? A favorable approach to innovations in the crypto sector. Recently for example, the CFTC approved major assets as new financial guarantees.

Mike Selig, a lawyer who worked at the SEC, promised to make crypto a priority. He will head a weakened body, currently composed of only one active member. This gives him exceptional freedom of action, although legally delicate. One of his first missions: to lead the integration of stablecoins as guarantees in tokenized financial products.

Travis Hill, meanwhile, has denounced the debanking of crypto companies. He states that no rule forbids banks from working with these players. However, they must manage the risks.

These two nominations come in a strategic context. A bill proposes to give the CFTC direct oversight of the US crypto market. If the text is adopted, it would reduce the SEC’s role in favor of a structure considered more technical and less hostile.

Crypto: between political promises and investor expectations

These choices are part of a dynamic orchestrated by Donald Trump. The current president has never hidden his desire to review the regulation of the digital sector. With these two figures, he thus strengthens his grip on regulatory authorities while winning over part of the crypto-friendly electorate.

The crypto community is enthusiastic. Some praise Selig’s experience as a regulator and digital expert. Others speak of a promising new chapter for digital assets.

But this goodwill also raises questions. Observers fear in fact a too lenient regulation, which could encourage excesses or delay necessary protection measures for individual crypto investors.

In any case, crypto is entering a decisive phase that could redefine relationships between companies, banks and regulators. This regulatory turning point could also inspire other countries seeking a balanced model between innovation and oversight.