PANews reported on December 20th that, according to The Block, Republican Senator Cynthia Loomis' term will end in January 2027, but she has indicated she will not seek re-election. She posted on the X platform on Friday that the events of last fall left her physically and mentally exhausted.

Senator Loomis is the chair of the Senate Banking Committee's Subcommittee on Digital Assets, and she has been actively involved in congressional efforts to regulate the cryptocurrency industry for the past few years. She has worked closely with New York Democratic Senator Kirsten Gillibrand to advance comprehensive legislation aimed at establishing a regulatory framework for digital assets, including clarifying the regulatory responsibilities among agencies such as the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The Senate Banking Committee has been actively advancing this legislation through multiple meetings, with participants including Democrats, Republicans, representatives from the cryptocurrency industry, and stakeholders from traditional finance. The current goal is to amend the bill and pass committee review early next year, but this still needs to be combined with the ongoing work of the Senate Agriculture Committee. Afterward, the bill will require a full Senate vote and must be reconciled with the version passed by the House this summer.