Cynthia Lummis Appointed as Chair of First U.S. Senate Digital Assets Subcommittee

user avatar

by Giorgi Kostiuk

2 years ago

Senator Cynthia Lummis has been appointed as the chair of a new U.S. Senate subcommittee focused exclusively on digital assets, marking the first step towards increased Congressional attention to cryptocurrency regulation.

Lummis' Appointment

Senator Cynthia Lummis, known as a vocal supporter of Bitcoin in Congress, has been named the chair of the Senate Subcommittee on Digital Assets. This followed the Republicans regaining control of the Senate.

Role of the Subcommittee in Regulation

The new subcommittee, created under the Senate Banking Committee, will focus on cryptocurrency legislation. Its members include five Republicans, among them Senator Bernie Moreno from Ohio, a former blockchain entrepreneur.

FIT21 Legislation and Its Significance

The subcommittee is expected to lead on crafting cryptocurrency legislation in the Senate, aligning with efforts from the House of Representatives which pushed forward the FIT21 Act. The legislation is targeted at consumer protection and market structure, despite opposition from the Biden administration.

The establishment of this new subcommittee is a significant step towards increased regulation of digital assets, highlighting Congress's growing focus on this area.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

24X and Standard Chartered Enhance Partnership for Institutional Crypto Trading

24X Bermuda expands its partnership with Standard Chartered to facilitate institutional trading of Bitcoin and Ether, enhancing access to cryptocurrency and foreign exchange.

user avatarKaterina Papadopoulou

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Bitcoin Slips Toward $74,000 After Fed Governor Signals December Rate Hike

Bitcoin's value has dropped significantly, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the upcoming December FOMC meeting.

user avatarLeo van der Veen

MARA Reports Significant Bitcoin Sales and Loan Repayment

MARA disclosed significant Bitcoin sales and loan repayment, marking a strategic shift from holding to monetizing reserves.

user avatarLi Weicheng

US Spot Ether ETFs Face Major Withdrawals on November 9

On November 9, US spot Ether ETFs experienced significant net withdrawals totaling $1.846 billion, primarily driven by BlackRock's ETHA, reflecting ongoing investor concerns about market conditions.

user avatarAisha Farooq

Crypto Firms Rally Behind CFTC in Perpetual Futures Legal Battle

Coinbase, Kalshi, and four other companies filed an amicus brief supporting the CFTC's authority to regulate perpetual futures tied to US stocks amid a significant lawsuit.

user avatarBayarjavkhlan Ganbaatar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.