US President Donald Trump has put forward the nomination of Travis Hill, who has served as the acting chair of the Federal Deposit Insurance Corporation (FDIC), to officially lead the agency for a five-year term.

On Tuesday, Trump’s nomination was submitted to the Senate Banking Committee for review. Prior to his appointment at the FDIC, Hill had issued guidance regarding digital currencies and responded to criticisms about financial institutions allegedly debanking clients associated with cryptocurrency. He emphasized the FDIC’s commitment to ensuring that banks can interact with digital assets safely.

“I anticipate that this is just one of many actions the FDIC will take to outline a fresh strategy for how banks can safely integrate crypto into their services,” stated Hill earlier this year.

In January, Martin Gruenberg, who previously held the FDIC chair, resigned as part of the changeover from the Biden administration.

Trump’s Ongoing Appointments in Financial Oversight

Although Trump has made several nominations that could influence US cryptocurrency regulations, such as Hill’s, there has yet to be a pick made for the Commodity Futures Trading Commission (CFTC) chair position left by Brian Quintenz, nor has a Democratic seat at the Securities and Exchange Commission (SEC) been filled since January.

The timeline for Senate hearings regarding Hill’s nomination remains uncertain as the US government is currently experiencing a shutdown due to the inability of Congress to agree on a new funding bill.