The confirmation of Trump's nominees for the CFTC and FDIC chair positions is advancing, which may reshape the landscape of cryptocurrency regulation

According to CoinDesk, the U.S. Senate is advancing confirmation votes for two key financial regulatory officials nominated by President Trump, with Mike Selig set to become the chairman of the CFTC and Travis Hill officially taking on the role of FDIC chairman.

Both are seen as crypto-friendly and will play an important role in the regulation of the U.S. crypto market. Once in office, Selig will become the sole commissioner of the CFTC and lead the enforcement of crypto regulatory legislation; Hill has emphasized lifting the previous government's restrictions on banks engaging in crypto activities and addressing the issue of "de-banking."