The U.S. Senate Banking Committee is set to establish its first-ever subcommittee dedicated to cryptocurrency and digital asset regulation.

This move signifies an important step toward creating a more structured regulatory framework for the rapidly expanding cryptocurrency industry. Wyoming Republican Senator Cynthia Lummis, a staunch Bitcoin advocate, has been provisionally selected to chair the new subcommittee, pending a confirmation vote next week.

A Milestone in Crypto Regulation

Under the leadership of Senator Tim Scott, the Senate Banking Committee is making cryptocurrency oversight a priority as regulatory scrutiny and public interest in the space continue to grow. The move echoes the crypto subcommittee launched in 2023 by…