The U.S. Senate is close to holding a final vote on the nominees for chairman of the CFTC and FDIC.

According to Odaily, both the U.S. Commodity Futures Trading Commission (CFTC) and the Federal Deposit Insurance Corporation (FDIC) will significantly regulate the U.S. cryptocurrency industry. The chairmen of these two agencies, nominated by President Trump, are currently undergoing Senate confirmation proceedings, which are nearing completion—however, the Senate may still need several days before a final vote. On Thursday, the Senate passed a resolution by a vote of 52 to 47, bringing Mike Selig one step closer to taking over the CFTC, while Travis Hill's appointment as FDIC chairman will soon be decided. A spokesperson for Senate Majority Whip John Barrasso posted on the X platform that the final vote may take place "early next week."

Senate Republicans are leaning towards an unusual approach: confirming dozens of Trump's nominees all at once. In this vote, 97 confirmations are pending, with Selig and Hill being just two of them. (CoinDesk)