#Senate Establishes Digital Assets Subcommittee#

Senate Banking Committee Chairman Tim Scott (R-S.C.) announced plans in August to create a subcommittee focused on digital assets. The Senate Banking Committee is currently voting on whether to establish the digital asset subcommittee and its members. Senator Cynthia Lummis, a vocal supporter of digital assets, is reportedly set to lead the subcommittee. The creation of the subcommittee marks a growing focus on the digital asset space by the U.S. Congress and is expected to have a significant impact on the future regulation and development of digital assets. The subcommittee will be responsible for reviewing the regulatory framework for digital assets, including cryptocurrencies, stablecoins, and blockchain technology, and may propose new legislative proposals.