#Senate Establishes Digital Assets Subcommittee#

Senate Banking Committee Chairman Tim Scott plans to establish a subcommittee focused on digital assets, to be led by Senator Cynthia Lummis. The subcommittee's creation aims to delve into the digital asset space, including cryptocurrencies, blockchain technology, and related policy issues. Scott announced the plan in August, stating that the subcommittee would help the Senate better understand the potential and risks of digital assets. Currently, the Senate Banking Committee still needs to vote on the subcommittee's establishment and membership list. The formation of this subcommittee signifies the increasing attention of the U.S. Congress on the digital asset space, and it is likely to lead to the development of relevant laws and regulations, providing a clearer regulatory framework for the digital asset industry.