In what is a massive move forward for the industry in the country, US Senator Cynthia Lummis has been named the chair of the first-of-its-kind Senate Banking Subcommittee on Digital Assets. Indeed, Lummis took to X (formerly Twitter) to share the news that she had accepted the position.
Lummis noted that she was honored to receive the appointment to head the inaugural subdivision. “I am humbled my colleagues have placed their trust in me to chair this historic subcommittee,” the US Senator wrote. Moreover, she expressed her excitement in “shepherding bipartisan legislation to President Trump’s desk this year that secures our financial future.”
Honored to chair the Senate Banking Subcommittee on Digital Assets. pic.twitter.com/mWj2hKA0NQ
— Senator Cynthia Lummis (@SenLummis) January 23, 2025
Also Read: US Senator Lummis & Trump’s Treasury Secretary Meet to Talk Bitcoin Reserve
US Senator Set to Lead Subcommittee to Develop New Crypto Legislation
At the start of the year, the Senate Banking Committee announced plans to launch a brand new cryptocurrency-focused division. Indeed, the move would mark unprecedented commitment and dedication to digital asset regulation in the country. Moreover, it took place before US President Donald Trump was inaugurated and set to implement an overarching crypto policy revamp.
Now, that developing division has a head. Specifically, US Senator Cynthia Lummis has announced her appointment as chair of the Senate Banking Committee on digital assets. For much of the last year, Lummis has emerged as one of the largest pro-crypto politicians on Capitol Hill.
Also Read: Donald Trump Could Pass Bitcoin Reserve Bill in First 100 Days
Her commitment to the asset class was no clearer than with the arrival of her Bitcoin Act. Specifically, the Senator introduced legislation that would allow the United States to create its first-ever strategic BTC reserve. The bill would break new ground for crypto and the country’s embrace of it.
With Donald Trump now in the Oval Office, that plan has never looked closer. Throughout his campaign for re-election, he has championed the potential of cryptocurrencies. Moreover, he has continually spoken of the importance of the United States to once again be viewed as a leader in the crypto space. In her first statement as Chair, Lummis emphasized the necessity for “a comprehensive legal framework for digital assets” to strengthen the US dollar.