According to Odaily Planet Daily, newly elected Ohio Republican Senator Bernie Moreno will join the Senate Banking Committee, which is responsible for overseeing the U.S. SEC and plays a key role in cryptocurrency legislation.
Moreno received more than $40 million in funding from pro-cryptocurrency PACs to defeat incumbent Democratic Senator Sherrod Brown, who did not prioritize cryptocurrency legislation during his tenure as committee chairman and blocked related bills from passing.
Moreno will work with other senators who support cryptocurrency and use his experience in running blockchain companies to promote legislation related to cryptocurrency market structure and stablecoins. South Carolina Senator Tim Scott will serve as the committee chairman.
