The US Senate confirmed Michael Selig as the chairman of the Commodity Futures Trading Commission and confirmed Travis Hill as the chairman of the Federal Deposit Insurance Corporation on Thursday evening, appointing official heads of these two key financial markets and banking regulators. The CFTC has traditionally overseen swaps and derivatives markets, but the CFTC is on the eve of a transformation as lawmakers consider legislation granting the agency greater powers to monitor digital assets. Hill previously served as the FDIC's vice chairman and temporary director, and under his leadership, the FDIC has begun to relax regulations.

The US Senate confirmed Michael Selig as the chairman of the Commodity Futures Trading Commission and confirmed Travis Hill as the chairman of the Federal Deposit Insurance Corporation on Thursday evening, appointing official heads of these two key financial markets and banking regulators. The CFTC has traditionally overseen swaps and derivatives markets, but the CFTC is on the eve of a transformation as lawmakers consider legislation granting the agency greater powers to monitor digital assets. Hill previously served as the FDIC's vice chairman and temporary director, and under his leadership, the FDIC has begun to relax regulations.