FDIC
The U.S. Senate confirmed Mike Selig as chair of the CFTC and Travis Hill as chair of the FDIC on Dec. 18, 2025, appointments seen as crypto-friendly leadership at two influential regulators. Markets and industry participants are watching for how the pair will shape enforcement, bank supervision, and stablecoin policy.
The FDIC has opened a formal rulemaking process to create procedures allowing depository institutions to form and operate stablecoin subsidiaries under the GENIUS Act. The move is the first concrete federal step toward integrating bank-issued stablecoins into the U.S. financial system.
Levelfield Financial received conditional approval from the Illinois Department of Financial and Professional Regulation to acquire Burling Bank, clearing a major regulatory hurdle to offer FDIC‑insured banking alongside crypto services nationwide. The move could expand insured banking access for digital asset firms if federal sign‑offs follow.
On July 14, 2025, the FDIC, Federal Reserve Board, and OCC issued a joint statement addressing risk-management for banks offering crypto-asset safekeeping services, emphasizing adherence to existing regulations without adding new supervisory rules.