PANews reported on December 12th, citing CoinDesk, that both the 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 the final vote. On Thursday, the Senate passed a resolution with 52 votes in favor and 47 against, 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 inclined to take an unusual approach, confirming dozens of Trump's nominees at once. In this vote, 97 confirmations are pending, and Selig and Hill are just two of them.