PANews reported on January 10 that according to The Block, the U.S. Senate Banking Committee plans to appoint cryptocurrency-friendly Senator Cynthia Lummis to lead the newly established Digital Assets Subcommittee to fulfill the new chairman’s promise.

Some Republican members of the Senate Banking Committee have preliminarily selected the leaders and members of the subcommittee, but the committee still needs to vote to confirm. Senate aides revealed that Lummis will lead a digital assets subcommittee, whose members include pro-cryptocurrency Senator Bill Hagerty and newly elected Senator Bernie Moreno.

Incoming committee chairman Tim Scott said earlier that if elected, he would set up a subcommittee focused on digital assets. Current chairman Sherrod Brown is critical of the cryptocurrency industry and calls for crackdowns on related illegal activities. The leadership of the Senate Banking Committee is also crucial because the chairman holds the financial power of legislation, including crypto bills.

Earlier news , the U.S. House Financial Services Committee appointed Bryan Steil as chairman of the Digital Assets Subcommittee.