Acting FDIC Chair Travis Hill Officially Nominated To Position

U.S. President Donald Trump has nominated acting Federal Deposit Insurance Corp. (FDIC) chair Travis Hill to formally lead the regulator, a move seen as a green light for banks seeking to expand into crypto. The announcement came Wednesday as Washington grappled with a grinding government shutdown.

According to an October 1 Reuters report, an anonymous source confirmed Trump’s nomination of Hill, who has served as acting FDIC chair since January. Hill previously held senior roles within the agency, including deputy to the chairman for policy and senior adviser.

His regulatory background and openness toward crypto-related activities have made him a popular figure among banks exploring digital assets.

Crypto Leaders Cheer Nomination

Hill’s nomination sparked swift reaction from the crypto industry. Blockchain Association CEO Summer Mersinger welcomed the choice, saying

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

Crypto-friendly Senator Tim Scott echoed the sentiment, praising Hill’s “commitment to fairness in our financial system” and voicing confidence in his ability to balance innovation with consumer protection.

The nomination also arrives against the backdrop of a U.S. government shutdown, triggered by partisan gridlock over spending bills. A Wednesday vote to end the impasse failed, with White House press secretary Karoline Leavitt warning of “imminent” layoffs if the deadlock continues.

What It Signals for Crypto Regulation

Trump’s decision to elevate Hill underscores the administration’s willingness to place a crypto-friendly figure at the helm of a powerful banking regulator.

While Hill’s confirmation could provide clarity for banks eager to expand into digital assets, Washington’s dysfunction raises doubts over whether policy momentum can outlast the chaos on Capitol Hill.