Senate confirms new CFTC and FDIC leaders in a single nominations package

Selig is widely viewed as someone who knows the crypto sector firsthand and also understands how Washington’s rulemaking machinery works. Before his nomination, he worked in the SEC’s orbit and took part in policy conversations about where the line should be drawn between the Securities and Exchange Commission and the CFTC when it comes to digital assets. With lawmakers and regulators still debating who should have primary authority over spot crypto markets, his arrival is being read as an attempt to bring more predictable ground rules and dial back interagency friction.

The CFTC also has a practical problem: staffing. The commission is typically structured around five commissioners, but it has spent much of this year operating in a diminished configuration. Selig’s confirmation is expected to trigger a leadership handoff as well. Acting CFTC chair Caroline Pham has previously said she plans to leave the agency once a new chair is in place.

For the banking system, the bigger headline is Hill’s confirmation. Hill, who has already served as the FDIC’s acting head, now has a full five-year mandate. In recent months, he has argued for revisiting elements of bank supervision, including how regulated banks interact with crypto companies. His nomination also drew pushback from some members of Congress, who pointed to internal disputes at the FDIC and pressed for stronger transparency and governance.

The confirmations also land in a broader personnel moment for U.S. financial policy. The White House has been widening the shortlist for the next Federal Reserve chair and has been interviewing candidates who, in public remarks, have sounded more receptive to digital-asset issues than many past nominees. Taken together, it is another sign that crypto policy is no longer a niche talking point. It is increasingly part of the checklist for top financial jobs.