According to WuShuo, Fox reporter Eleanor Terrett revealed that the U.S. Senate Banking Committee will establish its first cryptocurrency subcommittee under the leadership of Senator Tim Scott.
The subcommittee will be similar to the House Financial Services Committee established by Patrick McHenry in 2023. Senator Cynthia Lummis has been preliminarily selected to chair the subcommittee, but the specific candidate still needs to be confirmed in a committee vote next Thursday.