Wyoming Senator Cynthia Lummis has been selected to lead a new subcommittee focused on digital assets, an extension of the Senate Banking Committee. This decision comes as the Senate undergoes a leadership change, with South Carolina's Tim Scott as the new chairman. Scott expressed optimism about a subcommittee dedicated to crypto regulation, which aims to facilitate the conversation and legislative process surrounding the digital asset industry. In the House of Representatives, Wisconsin's Bryan Steil has been appointed to chair a similar subcommittee overseeing digital assets, financial technology, and artificial intelligence. This move aligns with Republicans' control of the government and their focus on embracing digital assets, reflecting a push for a strategic reserve of Bitcoin through proposed legislation like Lummis's BITCOIN Act. This act proposes a non-taxpayer funded acquisition of 1 million BTC over five years. These appointments suggest a favorable environment for the burgeoning crypto sector as the U.S. seeks to innovate and regulate its financial landscape.

Source 🔗