{"id":10249,"date":"2025-01-29T10:31:50","date_gmt":"2025-01-29T10:31:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10249"},"modified":"2025-01-29T10:31:50","modified_gmt":"2025-01-29T10:31:50","slug":"crypto-dream-team-senator-lummis-announces-senate-subcommittee-of-digital-assets-members","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10249","title":{"rendered":"Crypto \u2018Dream Team\u2019? Senator Lummis Announces Senate Subcommittee Of Digital Assets Members"},"content":{"rendered":"
\n

With the new pro-crypto administration in office, the industry is starting to see the long-awaited change of approach regarding regulations and measures to develop the sector. Following the announcement of the first crypto-related US Senate banking subcommittee, Senator Cynthia Lummis revealed the digital assets \u201cdream team.\u201d<\/p>\n

A Bipartisan Digital Assets Subcommittee<\/h2>\n

On Monday, US Senator Cynthia Lummis announced the members of the recently formed Senate Baking Subcommittee of Digital Assets, equally composed of four lawmakers from the Democratic party and four from the Republican party.<\/p>\n

Senator Lummis shared<\/a> her excitement on X, calling the members \u201cThe digital asset dream team.\u201d According to the post, the list includes Republican Senators Thom Tillis, Bill Hagerty, Dave McCormick, and Bernie Moreno; with Democratic Senators Ruben Gallego, Tina Smith, Mark Warner, and Chris Van Hollen also joining the subcommittee.<\/p>\n

\"Crypto\"<\/p>\n

Last week, the US Senate Banking Committee, led by Senator Tim Scott, created the first-ever digital assets subcommittee, appointing pro-crypto Senator Lummis as the chairwoman.<\/p>\n

The subcommittee will focus on passing bipartisan digital legislation \u201cthat promotes responsible innovation and protects consumers.\u201d This includes market structure, stablecoins, and a Strategic Bitcoin Reserve (SBR).<\/p>\n

Additionally, it will focus on conducting<\/a> \u201crobust oversight over Federal financial regulators to ensure those agencies are following the law\u201d to prevent \u201cOperation Chokepoint 2.0\u201d from happening again.<\/p>\n

After her appointment, Lummis stated she looked \u201cforward to shepherding bipartisan legislation to President Trump\u2019s desk this year that secures our financial future.\u201d<\/p>\n

Was The Pro-Crypto \u2018A-Team\u2019 Formed?<\/h2>\n

Despite some members expressing a pro-crypto stance, other subcommittee members have shared a less friendly view of the industry. Some community members expressed concern about these Senators, who criticized the industry over the years.<\/p>\n

According to Super Political Action Committee (PAC) Stand With Crypto (SWC) rankings<\/a>, Senators Smith, Warner, and Van Hollen are \u201cstrongly against\u201d or \u201csomewhat against\u201d crypto.<\/p>\n

Last year, the three Democratic Senators voted against overturning the Securities and Exchange Commission (SEC)\u2019s Staff Accounting Bulletin 121 (SAB 121), previously deemed a regulatory overreach<\/a> by the US watchdog.<\/p>\n

For instance, in 2022, Smith joined Senators Elizabeth Warren and Richard Durbin in an open letter condemning Fidelity\u2019s launch of a Bitcoin 401(k) retirement plan, calling BTC a \u201cvolatile, illiquid, and speculative asset.\u201d Senators Smith and Van Hollen also co-sponsored Elizabeth Warren\u2019s Digital Asset Anti-Money Laundering Act of 2023.<\/p>\n

Nonetheless, it\u2019s worth noting that five out of the eight subcommittee members \u201cstrongly support\u201d or \u201csomewhat support\u201d the industry, according to the SWC ranking, and crypto PACs<\/a> backed McCormick and Moreno during their campaigns.<\/p>\n

The community received the subcommittee \u201cDream Team\u201d news positively, some calling it \u201cThe A-team.\u201d MicroStrategy\u2019s founder, Michael Saylor, replied under the post, \u201cThe key to success is the right digital assets framework.\u201d<\/p>\n

The digital assets-dedicated subcommittee is expected to work towards a better, clearer, and more welcoming crypto regulation that balances innovation and oversight.<\/p>\n

\"Crypto,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

With the new pro-crypto administration in office, the industry is starting to see the long-awaited change of approach regarding regulations and measures to develop the sector. Following the announcement of the first crypto-related US Senate banking subcommittee, Senator Cynthia Lummis revealed the digital assets \u201cdream team.\u201d A Bipartisan Digital Assets Subcommittee On Monday, US Senator […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10249","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10249"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10249\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}