Cynthia Lummis Will Chair Digital Assets Subcommittee
Senator Cynthia Lummis announced today that she will become the first chair of the new Senate Digital Asset Banking Subcommittee. She claims that her main priorities are to create an industry-friendly regulatory framework and a U.S. Bitcoin reserve.
Lummis has shown a long-term commitment to these goals, but her role on the subcommittee is not enough to pass them on her own. Trump will need to maintain active political support to achieve these ambitious goals.
Lummis will chair the Digital Assets Subcommittee
Senator Cynthia Loomis Already one Friendly Cryptocurrency Regulatory Ally long before the subcommittee was formed. Last year, she became a The legislation supports a clear leader in the cryptocurrency movement. she keep insisting Criticizes tough regulations and Advocate for U.S. Bitcoin Reserve.
Earlier today, Loomis Announce Her appointment as subcommittee chair increased her visibility:
Lummis said: “Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation to establish a comprehensive legal framework for digital assets and strengthen the U.S. dollar through a strategic Bitcoin reserve. ” she claimed in the announcement.
since President Trump takes office this weeka new era of cryptocurrency regulation in the United States has begun. Before taking office, he expressed his intention to Create Senate Subcommittee. Senator Loomis has percussive became its president, but the appointment was officially confirmed today.
Key members of the cryptocurrency community have begun to express doubts about Trump’s true commitment to the industry, especially after he snubbed it in day one executive order.
However, his Silk Road founder Ross Ulbricht pardoned Allaying some of those concerns. Confidence is further strengthened now that Senator Loomis will chair this new subcommittee.
In her initial statement, Loomis made it very clear that she had two priorities as subcommittee chair: supporting good oversight and The boom in U.S. Bitcoin reserves.
Given her long history of advocating for these issues, it seems safe to say she will aggressively pursue these goals.
Ultimately, however, this was not enough to bring about these sweeping changes. Some industry leaders believe The Senate won’t support itBiden’s outgoing administration has made efforts to Sell existing inventory.
Ultimately, Loomis will have an influential voice as chairman of this new subcommittee, but Trump will need to provide active support of his own.
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