Most of the US Senate lawmakers voted to confirm Jonathan McKraman as under the secretary for domestic finance in the Treasury Department.
In a vote of Tuesday of 51 to 47, the Senate confirmed McKraman in the US treasury, serving under secretary Scott Bescent. Although the US government has been shutd down because lawmakers have failed to pass a bill that expands the funds beyond September 30, Congress can continue to work.
McKraman, who was appointed to the Treasury of US President Donald Trump in June, suggested that opposition to government -government policies, but did not clearly tie the so -called skill in any contact with digital assets. In a post in December X, he mentioned An article from economist Tyler Cowen asks if the US banking system can “combine with crypto.”
As an undersecretary for domestic finance, McKraman will help issues related to the US economy. Former undersecretaries in his position is weighing A US Central Bank Digital Currency and how the Treasury Department can cooperate with the Federal Reserve and Federal Deposit Insurance Corporation (FDIC) with banking policies.
Related: The US Treasury’s Bescent Bessent: Bitcoin’s purchase is still possible
McKernan had previously served in the FDIC and was initially tapped to lead the Consumer Financial Protection Bureau before Trump dismissed his nomination in May.
Government shutdown slows down regulation, legislative development
The US government’s shutdown enter the eighth day On Wednesday. A Republican-led bill to fund the government failed 54 to 45 in the Senate, not meeting the 60-boted threshold to be passed.
Republicans are currently holding a slim that is mostly in the room and require democratic votes to reopen the government. Democrats have requested for an extension of health care subsidies and a return of cuts from a proposed funding in July.
Although members of Congress may continue to confirm existing nominees and pass the Trump law, shutdown effectively stops the funding of funding that the Securities and Exchange Commission (SEC) funds are exchanged.
The bills are likely to require bipartisan support, such as market structure law to create a framework for digital ownership, are likely to be delayed Until the end of the shutdown.
Magazine: Delayed
