The Senate has confirmed Bitcoin-friendly former Fed governor Kevin Warsh as Federal Reserve chair, setting the stage for a potential shift in U.S. monetary policy just one day before lawmakers vote on the crypto market structure Clarity Act.

Kevin Warsh won Senate confirmation to the Fed board, clearing a key step toward replacing Jerome Powell as Fed chair.

The upper chamber voted to approve Warsh's nomination by a 51-45 vote, on a mostly party-line basis.