US Senate Banking Committee Advances Travil Hill's FDIC Nomination Amidst Crypto Regulation Focus

Overview

The U.S. Senate Banking Committee has advanced the nomination of Travil Hill to become the permanent head of the Federal Deposit Insurance Corporation (FDIC). The committee voted 13-11 along party lines to report Hill's nomination favorably, moving it to the full Senate for a final vote. Hill, currently the Acting Chairman, has been addressing the "debanking" controversy impacting the crypto industry.