{
}
The U.S. Senate Banking Committee, under Chairman Tim Scott, is set to establish its first cryptocurrency subcommittee, with Senator Cynthia Lummis as the likely chair, pending a vote. This initiative aims to enhance regulation of the digital assets industry and follows the House's passage of the Financial Innovation and Technology for the 21st Century Act, which emphasizes consumer protections. Republican members selected for the subcommittee include strong crypto advocates, while the participation of Democratic leaders remains uncertain.
Cynthia Lummis is set to lead a new Senate subcommittee on digital assets, an initiative supported by Senate Banking Committee Chairman Tim Scott, who advocates for increased focus on the crypto industry. Meanwhile, Bryan Steil will chair the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, emphasizing the need for regulation to prevent opportunities from moving overseas. Lummis has introduced the BITCOIN Act, proposing a national Bitcoin reserve to enhance the U.S. dollar's global standing, aiming for the government to acquire 1 million BTC without taxpayer funding.
Republican Senator Cynthia Lummis of Wyoming has been appointed to chair the newly formed crypto subcommittee of the US Senate Banking Committee, with a vote expected soon. Lummis, a proponent of cryptocurrency, recently introduced the Bitcoin Act of 2024, advocating for a Bitcoin strategic reserve for the US. Other Republican members include Senators Bernie Moreno, Dave McCormick, Thom Tillis, and Bill Hagerty, while the participation of Democratic Senators remains uncertain, particularly with Elizabeth Warren's known opposition to crypto.
Wisconsin Representative Bryan Steil has been appointed chair of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, succeeding Arkansas Representative French Hill. Hill will now lead the full House Financial Services Committee, focusing on establishing a regulatory framework for digital assets in 2025. Steil, who has been in Congress since 2019 and reported no crypto investments, received significant support from the crypto-backed PAC Fairshake during his reelection campaign.
Bryan Steil has been appointed chair of the House Financial Services Committee’s Subcommittee on Digital Assets, overseeing regulations for digital assets and emerging technologies. He advocates for legislation that balances innovation with investor protection, supporting initiatives like FIT-21 and SAB 121 to create clear regulatory frameworks and unify digital asset policies. Steil has criticized the SEC's current regulatory approach, arguing it hinders innovation and job growth in the U.S.
The crypto industry is experiencing a pivotal moment with the incoming Trump administration, which has appointed pro-crypto advocates to key positions, including Howard Lutnick as Commerce Secretary and Paul Atkins at the SEC. As industry leaders engage politically, they face challenges in unifying diverse interests and navigating complex legislative priorities, particularly around market structure and stablecoin regulation. The bipartisan Financial Innovation and Technology for the 21st Century Act aims to establish a regulatory framework, but stakeholders express concerns over its adequacy in addressing decentralized finance and regulatory responsibilities.
The 119th Congress prioritizes crypto legislation, focusing on stablecoins and market structure, with hopes for clarity on regulatory oversight. While bipartisan support exists, significant delays are expected, as political pressures and other legislative priorities may slow progress. Optimism for a national bitcoin reserve remains low, with experts doubting swift action.
The cryptocurrency market is set for a historic 2025, with Bitcoin projected to exceed $150,000 and Ethereum to surpass $8,000, driven by favorable macroeconomic conditions and institutional interest. Institutional inflows into Bitcoin and Ethereum ETFs are expected to reach $48 billion and $28.5 billion, respectively, while Ethereum is anticipated to lead an altcoin surge, increasing its market share. A potential Trump presidency could further enhance the regulatory landscape, fostering innovation in decentralized finance as the total value locked in dApps is forecasted to surpass $300 billion.
Two US Republican lawmakers are demanding a briefing from the Treasury Department regarding a cyber breach attributed to a Chinese state-sponsored entity that accessed employee workstations. They expressed concerns over the sensitive information compromised and the adequacy of current cybersecurity protocols. The incident, which occurred on December 2, 2024, has raised alarms about the protection of federal information from foreign threats.
Senator-elect Bernie Moreno, a pro-crypto advocate, will join the Senate Banking Committee, marking a significant shift in Washington's political landscape as he replaces crypto skeptic Sherrod Brown. Moreno's appointment, supported by a $40 million campaign from the crypto sector, could reshape crypto legislation alongside other pro-crypto lawmakers. Additionally, President-elect Trump is assembling a team of crypto-friendly nominees for key regulatory positions, signaling a broader agenda to foster a favorable environment for cryptocurrencies.
French Hill
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Senate Banking Committee establishes first cryptocurrency subcommittee under Tim Scott
United States Dollar
USA
Dave McCormick
Eleanor Terrett
Bernie Moreno
Donald Trump
Tim Scott
French Hill
Thom Tillis
Cynthia Lummis
Bill Hagerty
Elizabeth Warren
Patrick McHenry
Show more
22:25 10.01.2025
Cynthia Lummis to Lead New Senate Subcommittee on Digital Assets
Apple Inc.
USA
Tim Scott
David O. Sacks
French Hill
Donald Trump
Bryan Steil
Cynthia Lummis
Show more
15:07 10.01.2025
cynthia lummis appointed chair of new senate crypto subcommittee
United States Dollar
Apple Inc.
USA
Patrick McHenry
Dave McCormick
Bernie Moreno
Tim Scott
French Hill
Bill Hagerty
Cynthia Lummis
Bryan Steil
Elizabeth Warren
Thom Tillis
Show more
10:35 10.01.2025
wisconsin lawmaker bryan steil appointed chair of digital assets subcommittee
19:30 09.01.2025
bryan steil appointed chair of subcommittee on digital assets and fintech
17:50 09.01.2025
crypto leaders engage with new administration amid shifting political landscape
United States Dollar
Cantor Fitzgerald Income Trust, Inc.
Coinbase Global, Inc.
USA
Brian Armstrong
French Hill
David O. Sacks
Patrick McHenry
Kris Marszalek
Howard Lutnick
Neeraj Agrawal
Paul Atkins
Jennifer Schulp
Kristin Smith
Donald Trump
Show more
03:00 04.01.2025
us congress prioritizes crypto regulation amid market expectations and political dynamics
United States Dollar
USA
Brian Quintenz
Jesse Hamilton
French Hill
John Boozman
Dave Grimaldi
Marta Belcher
Glenn Thompson
Nic Carter
Perianne Boring
Kristin Smith
Cynthia Lummis
Summer Mersinger
Tim Scott
Chuck Schumer
Scott Bessent
Dennis Porter
Show more
16:44 03.01.2025
cryptocurrency market poised for record growth in 2025 according to research
11:30 03.01.2025
lawmakers demand treasury briefing on chinese cyber breach of employee workstations
07:46 03.01.2025
pro crypto senator bernie moreno joins banking committee reshaping legislation
USA
COL
Donald Trump
Sherrod Brown
Bernie Moreno
Cynthia Lummis
Paul Atkins
French Hill
Brian Quintenz
Show more
09:58 24.12.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Industry Mergers & Acquisitions
Finance Mergers & Acquisitions
Global Financial Events
Banking Regulations
Global Trade Developments
Retail and Consumer Goods
Domestic Politics
Central Bank Actions
CEO Changes
Market Analysis and Predictions
Startups & Entrepreneurship
Government Policies
Workplace Trends
Elections & Campaigns
Government Economic Policies
Inflation and Monetary Impact
Supply Chain Management
Countries:
Companies:
Tesla, Inc.
Barclays PLC
JPMorgan Chase & Co.
Deutsche Bank Money Market PP
Apple Inc.
UniCredit S.p.A.
Banco BPM S.p.A.
Credit Suisse Strategic Income I
The Goldman Sachs Group, Inc.
UBS Group AG
Lloyds Banking Group plc
BNP Paribas SA
Banco Santander, S.A.
SpaceXCoin USD
CREDIT AGRICOLE
Amazon.com, Inc.
Credit Agricole
Berkshire Hathaway Inc.
Reinsurance Group of America, Incorporated
Google Inc.
Currencies:
United States Dollar
Euro
Swiss Franc
British Pound Sterling
Chinese Yuan
Japanese Yen
Indian Rupee
South Korean Won
Canadian Dollar
Australian Dollar
Hong Kong Dollar
Offshore Chinese Yuan
Singapore Dollar
Mexican Peso
Vietnamese Đồng
Indonesian Rupiah
Thai Baht
Norwegian Krone
Swedish Krona
Filipino Peso
People: