Deep Tide TechFlow News, on January 10, FOX reporter Eleanor Terrett reported that the U.S. Senate Banking Committee will establish the first subcommittee specifically responsible for cryptocurrency, modeled after the Republican Financial Services Subcommittee established by Patrick McHenry in 2023.

Senator Cynthia Lummis has been preliminarily selected as the subcommittee chair, pending confirmation by a vote of the full committee. According to Senate aides, the votes on Lummis and the new Republican and Democratic members are expected to take place next Thursday, coinciding with the nomination hearing for Scott Turner, the housing and urban development secretary nominated by Trump.