Pro-Crypto Duo Takes the Helm at CFTC and FDIC!

The US Senate confirmed Mike Selig as CFTC chair and elevated Travis Hill to lead the FDIC.

Danielle du Toit
December 19, 2025

Here's what we've got for you today:

US Senate Confirms Pro-Crypto Selig to Lead CFTC, Hill to Head FDIC
Bitcoin Developers’ Quantum Stance Is Starting to Worry Investors
Coinbase Sues Michigan, Illinois and Connecticut Over Prediction Market Oversight
Crypto CLARITY Act Set for Senate Markup in January, Sacks Says

The US Senate has confirmed Mike Selig as CFTC chair and elevated Travis Hill to lead the FDIC.

The US Senate confirmed crypto-friendly lawyer Mike Selig as chair of the Commodity Futures Trading Commission and elevated Travis Hill to chair the Federal Deposit Insurance Corp.
Selig is a former CFTC and SEC official, and pledged to make cryptocurrency regulation a central priority of his tenure after replacing previous nominee Brian Quintenz.
Hill has been serving as acting FDIC chair, and openly voiced support for crypto firms and raised concerns in Congress about the debanking of companies linked to digital assets.

Quantum computing concerns are resurfacing in the Bitcoin debate, but Adam Back says the risks are still distant.

Concerns about quantum computing are resurfacing in the Bitcoin ecosystem, with some people in the industry warning that developer responses and investor perception could be influencing Bitcoin’s price action and capital flows.
Blockstream co-founder Adam Back downplayed the urgency by arguing that while it makes sense for Bitcoin to be “quantum ready,” the technology poses no realistic threat for decades.
Back said quantum computing is still extremely early, and pointed out that Bitcoin’s security model is not solely dependent on encryption in a way that would allow easy theft even if some cryptographic elements weakened.

Coinbase sued Michigan, Illinois, and Connecticut, arguing that prediction markets fall under the CFTC’s exclusive authority.

Coinbase filed lawsuits against Michigan, Illinois, and Connecticut, challenging state efforts to regulate prediction markets.
The exchange argues that prediction markets fall exclusively under the authority of the Commodity Futures Trading Commission, as designated by Congress, not state gaming regulators.
Coinbase warned that state intervention would cause “immediate and irreparable” harm, and Chief Legal Officer Paul Grewal believes that such actions stifle innovation and violate federal law.

Davis Sacks revealed that the CLARITY Act is advancing toward a Senate markup in January.

The Digital Asset Market Clarity Act (CLARITY Act) is moving closer to becoming law, with a Senate markup expected in January, according to White House AI and crypto czar David Sacks.
Sacks said Senate Banking Chair Tim Scott and Agriculture Chair John Boozman confirmed the bipartisan bill will be finalized by the Senate next month.
The CLARITY Act aims to define crypto securities and commodities, clarify the roles of the SEC and CFTC, and reduce regulatory uncertainty while strengthening investor protections.

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