Trump Nominates Travis Hill for Permanent FDIC Chair Role
Travis Hill, acting chairman of the Federal Deposit Insurance Bureau (FDIC), has been nominated by President Donald Trump for a permanent role. Hill is known for opposing debanking practices affecting crypto businesses.
- Hill aims to revise the FDIC's stance on crypto banking.
- He has resisted policies that debank industries deemed risky, including digital assets.
- The Senate must confirm Hill before he officially becomes chairman.
The Trump administration has been slow in appointing leaders at financial regulatory agencies, impacting overall governance, but remains favorable towards crypto. The FDIC was involved in a crypto banking crisis, exposed by Coinbase's Freedom of Information Act campaign, revealing letters warning banks against crypto dealings. Under Hill's leadership, the FDIC reversed a policy requiring prior government approval for new crypto activities.