US Senate Crypto Laws Subcommittee Chair Cynthia Lummis

The Senate Banking Committee, led by Tim Scott, will create its first crypto subcommittee. The subcommittee, like the Financial Services Republican, will prioritize crypto legislation and promote Donald Trump's campaign theme of making America the ‘crypto capital of the world’.

The US Senate Banking Committee will have a crypto subcommittee, according to Fox News writer Eleanor Terrett. A Senate aide said Republican Senator Cynthia Lummis has been informally picked to lead the subcommittee, but the full committee vote is still pending.


Before Trump's HUD secretary candidate Scott Turner's confirmation hearing, Lummis and the new Republican and Democrat members (still being finalized) will be voted on next Thursday.

The crypto subcommittee is one of Senator Tim Scott's first actions as Senate Banking Committee chairman, which controls financial regulators. Scott hopes to emulate Congressman Patrick McHenry's 2023 House Financial Services Republican panel. In particular, it subcommittee drafted the groundbreaking crypto regulatory measure “FIT21”. The crypto subcommittee must also provide comprehensive plans.

To obtain crypto industry confidence, Democrats, including presidential candidate Kamala Harris, softened their anti-crypto position during election campaigns. They said their government will regulate and collaborate with the sector. Following Donald Trump's election, the SEC and other agencies started to abandon their campaign "stance." The CFTC subpoenaed Coinbase for customer data and shut down Polymarket for letting US customers to gamble on presidential elections.

#USJoblessClaimsDrop #USJobOpeningsSurge #OnChainLendingSurge #DOJBTCAuction $BTC $XRP $ETH