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As President Biden concludes his final days in office, the Senate has begun the process of confirming President-elect Trump's Cabinet picks.

Defense Minister Pete Hegseth was first in the hot seat.

Predictably, Republicans embraced Hegseth, calling his “unconventional” resume an asset, while Democrats criticized him over his career. Personality and judgment. It's been hours of tense questioning, but Senate Majority Leader John Thune says he plans to schedule a vote soon, and Hegseth should have the nomination in the bag.

In today's confirmation hearings are Trump's picks for Attorney General (Pam Bondi), CIA Director (John Ratcliffe), and the White House Office of Management and Budget (Ross Vought).

The Senate Banking Committee has not yet set a date SEC chief optimistic Paul Atkins' confirmation hearing, but with a broad Republican draw supports Atkins should be in place. Meanwhile, Trump will choose either Commissioner Pearce or Ueda to serve Acting chair. We expect the transitional team to announce this decision in the next few days.

In his finals town hall Address Tuesday, Outgoing SEC Chairman Gary Gensler praised his agency staff for their “wise counsel and assistance.”

“I have aggressively followed the facts and the law without fear or favor to ensure market participants comply with securities laws, whether with respect to traditional financial products or newer products like cryptocurrencies,” Gensler said, in what may be his final gesture. Industry as head of the agency.

Trump has not yet announced his pick to chair the CFTC. Rostin Behnam, who is tall He called For Congress to give the CFTC explicit oversight of digital asset commodities Step down on monday. Carolyn Pham or Summer Mersinger, both Republican commissioners of the Commodity Futures Trading Commission (CFTC), are expected to head the agency in the meantime.

Outside candidates on Trump's shortlist are said to include former CFTC Commissioner Brian Quintenz, former agency official Josh Sterling and attorney Neal Kumar. I doubt we'll get an official nomination from Team Trump before Monday, but we'll be on the lookout if that happens.

In the House of Representatives, Majority Whip Tom Emmer was chosen yesterday to serve as Vice Chairman of the Digital Assets Subcommittee.

“With President Trump in the White House, and Gary Gensler still in the dustbin in Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values,” Emmer wrote in an article. statement On X.

Emmer, who co-sponsored the fight against central bank surveillance (CBDC). State lawthe anti-SAB 121 Resolution and FIT21And he defended More lenient Cryptocurrency regulation in recent years. The House Financial Services Committee has not yet issued a timeline for upcoming hearings.

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