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According to Blockworks, the Senate Banking Committee convened on Thursday to evaluate four of President Joe Biden’s nominees for positions at federal agencies. Among those nominated were US Securities and Exchange Commissioner Caroline Crenshaw, who is up for another term, Christy Goldsmith Romero for chair of the Federal Deposit Insurance Corporation (FDIC), Kristin Johnson for Assistant Secretary of the Treasury, and Gordon Ito for a position on the Financial Stability Oversight Council. The hearing saw limited discussion on cryptocurrencies or digital assets, with committee members focusing more on recent cultural issues at the FDIC.

Goldsmith Romero, who is poised to take over the FDIC, addressed the committee amid controversy surrounding the agency. A report from May revealed allegations of sexual harassment and discrimination at the FDIC, raising questions about the current Chair Martin Gruenberg’s future. Goldsmith Romero assured Senators that she plans a “complete overhaul” of the agency if confirmed, including firing perpetrators of harassment or abuse and implementing a new system for registering complaints.

Senator Mark Warner, D-Va., expressed support for Goldsmith Romero, highlighting her experience with the crypto and AI industries. Warner emphasized the importance of having technological knowledge in areas like AI and blockchain for the FDIC. This support from Warner, a moderate Democrat, could be crucial for Goldsmith Romero, who has faced criticism from some Republicans questioning her qualifications. However, committee members appeared largely satisfied with her responses during the hearing.

In a brief mention of cryptocurrencies, Senator Cynthia Lummis, a long-time industry advocate, asked Goldsmith Romero if banks should be allowed to hold the assets of digital asset companies. Goldsmith Romero responded that banks currently do hold custody of digital assets and that it is not the FDIC’s role to dictate which industries or companies banks should serve. Lummis did not direct any questions to Crenshaw during her time.

Crenshaw, like the other nominees, used the hearing to defend her record. She specifically addressed the SEC’s decision to allow bitcoin spot ETFs to begin trading earlier this year, a decision she dissented from due to concerns about significant fraud in the underlying spot markets globally. Crenshaw argued that the SEC should not have permitted these products to go live.