📌 With Republicans taking power in the US, cryptocurrency supporters are hoping Congress
– With the re-election of President Donald Trump in the US, cryptocurrency supporters are turning their attention to key players in both chambers of Congress, which they believe will become the most pro-cryptocurrency Congress in history
Blockchain Association senior director of government relations Ron Hammond told Cointelegraph editor Jesse Coghlan that the Senate Banking Committee and House Financial Services Committee will play key roles in shaping pro-cryptocurrency policy. Ron Hammond, the Blockchain Association’s senior director of government relations, told Cointelegraph editor Jesse Coghlan that the Senate Banking Committee and the House Financial Services Committee will play a key role in shaping pro-cryptocurrency policy.
Representative French Hill, D-Dec 2024. was named chairman of the House Financial Services Committee and was highly critical of the previous administration’s approach to regulation.
After taking office, Hill said that the Republican leadership’s priority was to make sure that the House Financial Services Committee was a good place to work. He promised sweeping regulatory reform for digital assets before the U.S. election.
Speaking to an audience at the Bitcoin 2024 conference, Scott said that the previous leadership of the Securities and Exchange Commission (SEC) had obstructed pro-cryptocurrency policies and promised change to U.S. voters.
2024 voters in the summer of 2012. Scott also promised bitcoin voters that ‘I can absolutely guarantee you that your bill will get a vote, it will get through the banking committee, and we will fight to make it become law in the United States of America.
After Scott’s announcement, Republicans won the November 2024 election, winning both houses of Congress, the presidential election and the popular vote.
In January 2025, Wyoming Senator Cynthia Loomis was appointed by Scott to the Senate Digital Assets Subcommittee. Loomis said the subcommittee’s main goals are to pass comprehensive digital asset legislation and prevent state regulators from being overly influenced.