There are reports that the US Senate Banking Committee (SBC) is looking to establish a subcommittee focused on cryptocurrency, especially under the forthcoming Trump administration.<\/p>\n
According to FOX Business, this new initiative is being led by the SBC\u2019s chair, Republican Senator Tim Scott, and is considered a significant focus area.<\/p>\n
Scott is eyeing Senator Cynthia Lummis, a supporter of Trump\u2019s Bitcoin reserve strategy, as the potential leader of this subcommittee.<\/p>\n
With only ten days until Trump\u2019s inauguration, excitement and uncertainty are rising. While Trump\u2019s global goals dominate the news, important actions are taking place behind the scenes.<\/p>\n
The SBC is responsible for overseeing banks and financial regulatory bodies like the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).<\/p>\n
This new crypto subcommittee would serve as the primary regulator for digital assets, possibly overriding conflicting regulations from the SEC or CFTC.<\/p>\n
According to Senate aides, Lummis appears to be the frontrunner for leading the subcommittee, and her confirmation could be announced soon.<\/p>\n
Other notable senators who are supportive of cryptocurrency, such as Dave McCormick, Bernie Moreno, and Thom Tillis, might also join the subcommittee. It\u2019s noteworthy that McCormick and Moreno garnered significant donations (over $40M) from the crypto sector during the 2024 election.<\/p>\n
On the other side, crypto skeptic Elizabeth Warren is continuing her tenure on the SBC. This variety of perspectives is expected to create a balanced dialogue.<\/p>\n
Change is also anticipated at the Commodity Futures Trading Commission (CFTC). Rostin Behnam, the current chair, has indicated he will resign upon Trump\u2019s arrival in office. During his four years, he adopted an \u201cintimidate, suppress, enforce\u201d approach, advocating for tighter crypto regulations.<\/p>\n
Summer Mersinger, a CFTC commissioner and former staff member for Senator John Thune, is viewed as a likely successor. Mersinger expressed discomfort with the CFTC\u2019s enforcement-heavy strategy when dealing with cryptocurrencies.<\/p>\n
Despite Trump\u2019s strong pro-crypto posture, there are plenty of people ready to express their dissent. The platform Catslap ($SLAP) allows users to act on those feelings.<\/p>\n
The unique Slap-to-Earn feature enables users to \u2018slap\u2019 characters, including Trump, and earn points redeemable for $SLAP tokens. The most active participants stand a chance to win substantial prizes.<\/p>\n
<\/p>\n
With Season 1 wrapping up in less than 24 hours, ten winners will share a $100K prize. Others who participate but don\u2019t make it into the top ranks will also receive token airdrops.<\/p>\n
Currently priced at $0.0027, $SLAP might experience a boost due to an upcoming $1M token burn scheduled for January 31.<\/p>\n
Additionally, a 30% staking APY is encouraging investors to keep their tokens rather than sell, helping to reduce market pressure.<\/p>\n
Early adopters have seen returns exceeding 2,500% since the launch of the project, and the potential for growth remains high.<\/p>\n
$SLAP can currently be traded on MEXC or through Best Wallet. Stay updated by joining the Catslap communities on X<\/a> and Telegram<\/a>.<\/p>\n Trump\u2019s administration is expected to be a significant ally for the crypto industry, possibly benefiting the entire market.<\/p>\n However, caution is advised as the crypto landscape remains unpredictable. It\u2019s essential to thoroughly research and only invest what you can afford to lose.<\/p>\n","protected":false},"excerpt":{"rendered":" There are reports that the US Senate Banking Committee (SBC) is looking to establish a subcommittee focused on cryptocurrency, especially under the forthcoming Trump administration. According to FOX Business, this new initiative is being led by the SBC\u2019s chair, Republican Senator Tim Scott, and is considered a significant focus area. Scott is eyeing Senator Cynthia […]<\/p>\n","protected":false},"author":14,"featured_media":26029,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Cynthia Lummis to Head SBC\u2019s Cryptocurrency Subcommittee During Trump Era - Bitrabo","description":"There are reports that the US Senate Banking Committee (SBC) is looking to establish a subcommittee focused on cryptocurrency, especially under the forthcoming"},"footnotes":""},"categories":[316],"tags":[504,671,3829,11033,11034,2377],"class_list":["post-26028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto","tag-lead","tag-lummis","tag-sbcs","tag-subcommittee","tag-trump"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=26028"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/26028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/26029"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=26028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=26028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=26028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/span>Final Thoughts<\/span><\/h2>\n