The US Senate approval of Mike Selig as the head of the CFTC and Travis Hill as head of the FDIC is a welcome move & positive development for the crypto market.

According to PANews, the U.S. Senate has moved forward with confirming a significant number of nominees put forth by U.S. President Donald Trump, including two officials who will play crucial roles in cryptocurrency regulation. On Thursday, the Senate approved Mike Selig as the head of the Commodity Futures Trading Commission (CFTC) and Travis Hill to lead the Federal Deposit Insurance Corporation (FDIC). Selig is expected to be a key figure in cryptocurrency regulation, succeeding Acting Chair Caroline Pham, who has been advocating for an aggressive cryptocurrency policy agenda in the absence of a permanent chair.