US President Donald Trump has nominated Travis Gill to be the FDIC chairman. He supports banks’ involvement in cryptocurrency and tokenization.
Trump Nominates Travis Gill for FDIC Chairman
US President Donald Trump has nominated Travis Gill to serve as acting chairman of the Federal Deposit Insurance Corporation (FDIC). If confirmed, he will serve a five-year term. The nomination was made by the Senate Banking Committee.
Gill’s Position on Digital Assets
Even before his appointment to the FDIC, Gill said the agency needed to provide more clarity on digital assets and tokenization. In March, he sent a letter to banks emphasizing that working with cryptocurrencies is a “permissible activity” as long as safety and soundness requirements are met.
FDIC leadership changes
Previous FDIC Chairman Martin Grunberg, who was appointed under the Joe Biden administration, resigned in January. Trump is seeking to revamp key financial regulators, but has yet to name a nominee to head the Commodity Futures Trading Commission (CFTC) or fill all the seats on the Securities and Exchange Commission (SEC).
Political context
Gill’s nomination could be delayed as the U.S. government is in a government shutdown due to the failure of negotiations in Congress. No Senate Banking Committee hearings have been scheduled yet, and analysts predict the process could drag on for at least several weeks.
Related: SEC Chair: ‘Most Tokens Not Securities,’ Supports ‘Super-App’ Platforms