The U.S. Senate approved Kevin Warsh's nomination to the Federal Reserve Board of Governors by 51 votes to 45.

CoinPost and other foreign media reported on Tuesday that the Senate plans to vote separately this week on Warsh's nomination as Federal Reserve chair.

The vote puts Warsh on the Fed's Board of Governors first. His term as a governor runs through 2040. The Fed chair appointment requires a separate process. The president nominates a chair from among the governors, and the Senate confirms the nominee again. If the Senate also approves the chair nomination this week, the succession process from current chair Jerome Powell to Warsh would effectively move toward completion. Powell's four-year term as chair ends this Friday.

The roles of a governor and the chair differ at the Fed. Governors serve as members of the seven-person board, taking part in decisions on monetary policy and bank regulation. They also have voting rights on the Federal Open Market Committee. The chair, by contrast, oversees the board and explains the direction of monetary policy publicly. The chair also communicates with markets through news conferences and congressional testimony. That is why Warsh was confirmed as a governor first, with a separate vote pending for the chair role.

Warsh attended Stanford University and Harvard Law School. He served as a Fed governor from 2006 to 2011, spanning the global financial crisis period. After leaving the Fed, he has worked as a fellow at the Hoover Institution and as an adviser to investor Stanley Druckenmiller.

The cryptocurrency industry is also watching Warsh's policy views. Warsh said at an April Senate Banking Committee confirmation hearing that cryptocurrencies have become deeply embedded in the structure of the U.S. financial services industry. He signaled that he sees cryptocurrencies as already part of the financial sector. In his asset disclosures, it was also confirmed that he holds more than 20 cryptocurrency-related assets, including Polymarket and Solana.

His remarks on monetary policy independence also drew attention. Warsh said at the April hearing that he had never once been asked by President Donald Trump to set interest rate levels in advance. He also said he would conduct monetary policy from an independent position. Trump has repeatedly called Powell "a stubborn person" and demanded aggressive interest rate cuts.

Markets are also watching Warsh's policy leanings going forward. He has been known as a hawk who puts weight on inflation risks, based on his past tenure as a Fed governor. The next focal point is expected to be the outcome of the chair confirmation vote and what stance he takes after assuming office on interest rates, financial regulation and the broader financial market, including cryptocurrencies.