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US Senate Confirms Crypto-Friendly Leaders at CFTC and FDIC

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The US Senate confirmed Mike Selig as CFTC chair and Travis Hill as FDIC chair in a 53–43 vote. Selig, a former CFTC and SEC lawyer, will focus on crypto regulation through 2029. Hill, replacing Martin Gruenberg, supports the crypto industry and opposes debanking. The confirmations come as the CFTC’s role in liquidity and crypto markets is under review. The CLARITY Act, which includes provisions on Countering the Financing of Terrorism, is set for a Senate markup in January 2025.
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