Key Takeaways
- The Senate Banking Committee is forming a digital assets subcommittee.
- Senator Cynthia Lummis will lead the subcommittee, focusing on Bitcoin regulation.
- The initiative aligns with President-elect Trump's pro-Bitcoin policy plans.
The U.S. Senate Banking Committee is preparing to launch its first-ever digital assets subcommittee, prioritizing Bitcoin legislation.
Chaired by Senator Cynthia Lummis (R-Wyo.), a vocal Bitcoin advocate, the subcommittee will address regulation of digital assets, financial technology, and artificial intelligence in finance.
This development follows Senate Republicans’ efforts to position the U.S. as a global leader in the digital economy after regaining control of Congress.
Pro-Bitcoin leadership & objectives
Senator Lummis will head a team of pro-Bitcoin lawmakers, including Senators Bernie Moreno (R-Ohio) and Dave McCormick (R-Pa.), both supported by substantial contributions from the Bitcoin industry.
Moreno received over $40 million from Bitcoin-aligned super PACs in his 2024 campaign.
The subcommittee will also include Senators Thom Tillis (R-N.C.) and Bill Hagerty (R-Tenn.).
The subcommittee builds on the groundwork of the House digital assets subcommittee led by Congressman Patrick McHenry in 2023, which advanced Bitcoin-friendly policies like the “FIT21” regulatory framework.
It aims to foster innovation, enhance consumer protection, and strengthen global competitiveness in digital finance.
Alignment with broader Bitcoin policy
The initiative aligns with President-elect Donald Trump’s pro-Bitcoin agenda, which includes plans for a national Bitcoin reserve.
Combined with state-level initiatives, the subcommittee represents a transformative step for U.S. Bitcoin policy.
