Simultaneously, the SEC proposes new rules for crypto token sales and trading on national exchanges.
President Donald Trump has put forward Travis Hill for the permanent role of FDIC chair. The Senate received the nomination and sent it to the Committee on Banking, Housing, and Urban Affairs. Committee members will examine the nomination before a full Senate vote. A confirmation result would give Hill a five-year term leading the federal deposit insurance agency.
Hill already serves as the acting chair of the FDIC. His earlier experience includes a position as senior adviser to a prior FDIC chairman during Trump’s first term. In his current temporary role, Hill has advocated for more precise federal guidance for banks dealing with assets. He has specifically addressed tokenization and the practice of debanking legal cryptocurrency businesses.
During March, Hill issued a letter to financial institutions. He clarified that banks could consider crypto asset activities as permissible. He also indicated the FDIC would take additional steps to explain how banks can engage with crypto and blockchain while following safety and soundness protocols.
Concurrently, the Securities and Exchange Commission is moving forward with its own plans for crypto asset regulations. The SEC’s agenda includes potential new rules governing the sale of crypto tokens. These rules may incorporate specific exemptions. The agency is also reviewing how its current broker-dealer regulations apply to crypto firms. Another consideration involves amendments to permit crypto asset trading on national securities exchanges.
Hill’s nomination follows the departure of Martin Gruenberg, who left the post in January. The administration still must fill other vacant roles at financial regulators. These appointments could collectively shape federal policy on crypto assets.
