The U.S. Senate Banking Committee, under the leadership of Senator Tim Scott, is set to establish its first-ever subcommittee dedicated to digital assets. This move, announced just days after Republicans took control of the Senate and ahead of President-elect Donald Trump's inauguration on January 20, aligns with Trump's campaign promise to prioritize cryptocurrency legislation. Wyoming Senator Cynthia Lummis, a known advocate for Bitcoin, has been selected to chair this new subcommittee, pending an approval vote. The subcommittee will include pro-crypto Republican Senators such as Bernie Moreno, Dave McCormick, Thom Tillis, and Bill Hagerty. This development follows the establishment of a similar subcommittee in the House of Representatives, now chaired by Wisconsin Representative Bryan Steil, who succeeded French Hill. The creation of these subcommittees reflects a broader Republican push to advance crypto-friendly policies in the U.S. government. The Senate Banking Committee oversees banks and financial regulators like the Securities and Exchange Commission and the Federal Deposit Insurance Corporation. Last year, the House Financial Services Committee passed the 'FIT21' bill, drafted by its digital assets subcommittee, aiming to establish a regulatory framework for digital assets.