Following the re-election of President Donald Trump in the United States, crypto advocacy groups have shifted their focus to key players in both chambers of Congress, which advocacy groups have characterized as the most pro-crypto Congress in history.
Ron Hammond, the senior director of government relations at the Blockchain Association, told Cointelegraph editor Jesse Coghlan that the Senate Banking Committee and the House Financial Services Committee will play pivotal roles in shaping pro-crypto policies.
Congressman French Hill was selected as chairman of the House Financial Services Committee in December 2024 and is highly critical of the regulatory approach under the previous administration.
Following the appointment, Hill said introducing a crypto market structure bill within the first 100 days of the legislative session was a priority for the GOP leadership.
On January 24, the House Committee on Oversight and Government Reform launched an investigation into Operation Chokepoint 2.0 and sent letters to crypto industry leaders and advocacy groups requesting input.
House Oversight Committee initiates debanking investigation. Source: House Oversight Committee
Related: SEC cancels controversial crypto accounting rule SAB 121
The Senate Banking Committee
Senator Tim Scott, chairman of the Senate Banking Committee, is pro-crypto and promised sweeping regulatory reform for digital assets prior to the 2024 United States elections.
Speaking to an audience at the Bitcoin 2024 conference, Scott said the former leadership at the Securities and Exchange Commission (SEC) was preventing pro-crypto policies and promised change to US voters.
“We have to get rid of the folks who are in the way,” Scott told pro-Bitcoin (BTC) voters in the Summer of 2024. Scott also promised Bitcoin voters:
“The one thing I will absolutely guarantee will be done is watching your legislation get a vote, pass the Banking Committee, and we’re going to fight to make it a law in the United States of America.”
Following Scott’s pronouncement, Republicans won an electoral sweep in November 2024, securing both chambers of Congress, the Presidential…
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