Big news for the crypto community: South Dakota Senator John Thune has been elected as the next Senate Majority Leader. Known for his pro-crypto stance, Thune's leadership could significantly influence the industry.
Thune has previously worked on establishing a legal framework for digital commodities, including cryptocurrencies, advocating for the Commodity Futures Trading Commission (CFTC) to oversee crypto trading—a position favored by many industry players. In addition, he supported a bill removing SEC barriers to banks offering crypto custody services earlier this year.
As Senate Majority Leader, Thune will have considerable influence over the legislative agenda, which may include:
Cabinet Confirmations: A priority after Trump takes office on January 20.
Renewing 2017 Tax Cuts: Thune supports this move, which could bolster economic growth.
Energy and Immigration Laws: Key areas of focus with potential wide-reaching effects.
Crypto Legislation: Although not explicitly confirmed, Thune's track record suggests that crypto-related bills may be prioritized.
This leadership shift could open doors for significant crypto policy advancements.