Crypto Community Reacts To Travis Hill’s Nomination As FDIC Chair

U.S. President Donald Trump has officially nominated Federal Deposit Insurance Corp. (FDIC) acting chair Travis Hill to spearhead the agency during his second term in the White House, Reuters reported on Wednesday.

According to the October 1 report, an anonymous source confirmed to the media outlet that Trump nominated Hill to formally serve as chair of the FDIC.

Hill, who has been serving as acting chair of the FDIC since January, is largely seen as a favorable choice for allowing banks to engage in crypto-related activities.

Prior to his time leading the FDIC, Hill served as the organization’s deputy to the chairman for policy and senior adviser to the chairman.

Several key players in the digital asset space took to social media following news of Hill’s nomination on Wednesday.

“We congratulate Travis Hill on his nomination to serve at the Federal Deposit Insurance Corporation,” Blockchain Association CEO Summer Mersinger said in a October 1 statement.

“His extensive background in financial regulation and public service uniquely positions him to contribute to the stability and modernization of our financial system.”

Chairman @SenatorTimScott issued the following statement regarding Travis Hill’s nomination to serve as Chairman of the Board of Directors of @FDICgov: pic.twitter.com/i36YOLzU7b

Crypto-friendly Senator Tim Scott also praised Hill in a Wednesday statement, saying the former policy adviser possesses a “commitment to fairness in our financial system.”

“I look forward to continuing to work with him to strengthen our financial system, protect consumers, and ensure fairness, access, and accountability,” Scott added.

Meanwhile, Hill’s nomination coincides with the beginning of a U.S. government shutdown after Republicans and Democrats failed to agree on key government spending bills.

A Wednesday vote that would have effectively ended the shutdown also failed, with White House press secretary Karoline Leavitt hinting at “imminent” layoffs.

Ultimately, Trump’s choice of Hill shows the administration’s regulatory priorities—though whether such moves withstand Washington’s dysfunction during yet another government shutdown remains far from clear.

The post Crypto Community Reacts To Travis Hill’s Nomination As FDIC Chair appeared first on Cryptonews.