The U.S. Senate Banking Committee, chaired by Senator Tim Scott, is poised to establish the first-ever subcommittee dedicated to cryptocurrency. This initiative mirrors the successful model implemented by Congressman Patrick McHenry of the House Financial Services Committee in 2023. Senator Cynthia Lummis, a prominent crypto advocate from Wyoming, is widely expected to lead the new subcommittee. Her nomination and the approval of additional members are anticipated to be voted on in the coming days. This move underscores the growing recognition and importance of cryptocurrency within the regulatory landscape. The establishment of a dedicated subcommittee will provide a platform for in-depth examination, policy development, and oversight of the rapidly evolving crypto industry.