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Senator Tim Scott has announced plans to establish a digital asset subcommittee if he becomes the chair of the Senate Banking Committee, contingent on the Republicans gaining Senate control in the upcoming elections. This initiative, discussed at the SALT Conference in Wyoming, aims to prioritize cryptocurrency and streamline related policy development. Senator Cynthia Lummis is expected to chair the new subcommittee, potentially granting her subpoena power to investigate regulatory bodies like the Federal Reserve, SEC, and FDIC. This move marks a significant shift from the current Senate Banking Committee's stance on digital assets, highlighting crypto as a top priority in 2025.
This is a pretty significant announcement by @SenatorTimScott. Creating a digital asset subcommittee is something we’ve seen in the House, but not in the Senate yet. Not only would this be the first Senate crypto subcommittee but it also shows crypto being a top priority in 2025. https://t.co/LUInp0QVLN
Crypto would be a priority under a @SenatorTimScott Senate Banking Committee chairmanship. News from @SALTConference session moderated by CCI's @CoryGardner. @SenLummis would chair digital asset subcommittee. https://t.co/FQ8gB1rdNF
⚡️ JUST IN: SEN. TIM SCOTT EYES DIGITAL ASSET SUBCOMMITTEE IF HE LEADS SENATE BANKING COMMITTEE Sen. Tim Scott, a strong #crypto advocate, plans to form a subcommittee on digital assets if he chairs the U.S. Senate Banking Committee. This move could accelerate crypto… https://t.co/rDf61wCU5t
