PANews reported on November 20 that, according to CoinDesk, the U.S. Senate Banking Committee on Wednesday advanced the confirmation process for Travis Hill, acting chairman of the Federal Deposit Insurance Corporation (FDIC), paving the way for a final vote at the full Senate session. If the vote passes, Hill is expected to become the permanent head of the banking regulator that continues to play a role in regulating the cryptocurrency sector.

At an executive meeting of the committee, senators voted 13-11 along party lines to "actively" brief Hill's nomination to the Senate. On Wednesday, Senate Banking Committee Chairman Tim Scott stated that Hill, a former committee member, was "fully qualified for this important role." However, Senator Elizabeth Warren, the committee's senior Democrat, criticized Hill for failing to provide information on the agency's internal efforts to rectify scandals stemming from previous leadership's workplace conduct and culture.