Rumor has it that the US Senate Banking Committee (SBC) is planning to create a subcommittee dedicated to cryptocurrencies under President Trump’s active administration.
FOX Business reports that the effort is a “top priority” of the SBC’s new chairman, Republican Sen. Tim Scott.
Scott believes Sen. Cynthia Lummis, who advocated for President Trump’s Bitcoin strategy preparation project, will lead the subcommittee.
The countdown to the chairman’s announcement begins.
With just 10 days left until President Trump’s inauguration, tensions are high. While President Trump’s geopolitical ambitions grab the headlines, there is real work going on behind the scenes.
The SBC oversees all banks and financial regulators in the country, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Since the Crypto Subcommittee will be the primary authority on digital assets, its regulations should theoretically take precedence over any conflicting rules issued by the SEC or CFTC.
Senate aides maintain that Sen. Lummis is the front-runner for the subcommittee chair. The Senate is expected to announce her confirmation in the coming days.
Pro-cryptocurrency senators Dave McCormick, Bernie Moreno, and Thom Tillis may also join the committee. Notably, Mr. McCormick and Mr. Moreno received over $40 million in donations from crypto industry insiders during the 2024 election.
Meanwhile, cryptocurrency skeptic Elizabeth Warren won her third term on the SBC. After all, the truth is always somewhere in the middle, so opposing views are welcome.
Possibility of Mr. Mersinger replacing Mr. Behnum as CFTC Chairman
The CFTC is also looking forward to positive changes. Rostin Behnum, the current CFTC chair, has vowed to resign when President Trump takes office. Mr. Behnum spent his four years in office under the motto of “intimidation, oppression, and coercion,” and called for even stricter cryptocurrency regulations.
Behnum’s potential successor is CFTC Commissioner Summer Mersinger, who served on Sen. John Thune’s staff for more than a decade.
Marsinger announced his support for cryptocurrencies in November, admitting that he was uncomfortable with the CFTC’s enforcement approach to regulation.
Chance to play cards and win big
No matter how much Trump defends cryptocurrencies, there is no shortage of people who want to slam him. Catslap ($SLAP) makes that possible.
The innovative Slap-to-Earn mechanism does exactly what it sounds like. You can earn points by slapping the character of your choice (masks are also on the list, as is Chuck Norris), and you can exchange those points for $SLAP tokens. The most active slapper will be given a chance to win a huge slap drop.
Season 1 will end in 24 hours and 10 lucky winners will receive a portion of the $100,000 prize. Those who don’t make it to the top 10 will also receive a token airdrop, so no one is left behind.
$SLAP, currently trading at $0.0027, could see some upside after the $SLAP token burn worth $1 million is scheduled for January 31st.
In addition to that, $SLAP’s 30% staking APY reduces selling pressure by encouraging investors to hold on to their tokens.
Early cat lovers (or Trump haters) have already secured returns of over 2,500% since the project’s launch, and $SLAP’s best days are far from over.
$SLAP is currently available via centralized exchanges MEXC or Best Wallet. Join our Catslap X and Telegram community to stay updated on the new Slapdrop season.
closing remarks
The Trump administration has promised to take the most pro-crypto stance in history, which should benefit the entire market.
But don’t count your chickens before they hatch. The cryptocurrency market remains volatile, so only invest what you can afford to lose.
