The U.S. Senate confirmed Michael Selig as chairman of the Commodity Futures Trading Commission (CFTC) by a 53–43 vote, and approved Travis Hill as chair of the Federal Deposit Insurance Corporation (FDIC).
Selig won Senate confirmation with a 53–43 roll call on December 18, 2025, while Hill’s confirmation occurred on December 19, 2025, as part of a broader slate of nominees, with his individual vote tally not widely published. Selig’s nomination moved through the Senate Agriculture Committee, which oversees the CFTC’s jurisdiction, and Hill’s nomination advanced through the Senate Banking Committee.
Both confirmations completed the Senate’s advice-and-consent role for two agencies central to markets and banking, underscoring procedural momentum behind their appointments.
Selig arrives at the CFTC with prior involvement in a federal crypto task force, a background highlighted by the administration and supporters as relevant to emerging digital markets. His record indicates familiarity with crypto policy and market structure, and his tenure will likely prioritize clearer regulatory frameworks for digital commodities and exchanges.
Observers expect the CFTC under Selig to pursue defined oversight approaches that could include advocating for legislative clarifications of jurisdiction and updating registration and compliance regimes for platforms handling digital assets.
Senate votes and the confirmation process
Travis Hill has served as Acting FDIC Chairman since January 20, 2025, and as Vice Chairman since January 5, 2023, and his confirmation as permanent chair consolidates continuity at the FDIC during a period of active industry transition. He has been involved in efforts to clarify how deposit insurance applies to blockchain-related products and has engaged on proposals addressing “tokenized deposits”—digital representations of bank liabilities issued and recorded on a blockchain.
Tokenized deposits are bank-issued deposit balances recorded as digital tokens on a distributed ledger to facilitate transfers and programmability. Hill’s leadership suggests the FDIC will continue developing guidance to clarify insurance treatment and supervisory expectations for such products, shaping how banks engage with tokenized instruments within existing regulatory frameworks.
The paired confirmations of Selig at the CFTC and Hill at the FDIC point to a regulatory pivot that combines openness to crypto innovation with an emphasis on oversight.
