The U.S. Senate Committee on Banking, Housing, and Urban Affairs is set to vote on the approval of chair and members for its various subcommittees, including Digital Assets Subcommittee, on Thursday at 10 AM EST. The decision could reshape future regulatory discussions on crypto and digital assets in the U.S.
The committee will conduct a hearing on the nomination of Mr. Eric Scott Turner to select him as a Secretary of U.S. Department of Housing and Urban Development.
On January 9, House Financial Services Committee Chairman French Hill (AR-02) today announced the selection of Bryan Steil (R-WI), to lead the House of Representatives Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence in the 119th Congress. He has been a vocal advocate for the digital asset space and innovation.
On the first day, Donald Trump tapped Mark Uyeda, a Republican member of the U.S. Securities and Exchange Commission, to be acting chair of the agency, after the previous chairman put his resignation.
Digital Asset Will Grow Under Trump’s New Administration
The pro-crypto stance of President-elect Donald Trump’s administration, combined with growing lobbying efforts in state legislatures, could encourage states to adopt a more crypto-friendly approach and potentially lead public pension funds and treasuries to invest in digital assets.
Supporters of Bitcoin, often likening it to Gold, argue that its scarcity makes it a strong hedge against inflation. Many crypto advocates believe that government-issued currencies are vulnerable to devaluation and that increased institutional adoption will help stabilize Bitcoin prices fluctuations.
On the other hand, critics warned that crypto investments are highly speculative, with uncertain future returns, and warn that investors should be prepared for potential losses.