Republican Bernie Moreno, who supports cryptocurrency, will join the Senate Banking Committee

Odaily Planet Daily News: Newly elected Ohio Republican Senator Bernie Moreno will join the Senate Banking Committee, which is responsible for overseeing the US SEC and playing a key role in developing cryptocurrency legislation. Moreno received over $40 million in funding from the Political Action Committee (PAC) that supports cryptocurrency to defeat incumbent Ohio Democratic Senator and cryptocurrency critic Sherrod Brown. Brown's refusal to prioritize cryptocurrency legislation during his tenure as chairman of the Senate Banking Committee has hindered the passage of bills related to market structure and stablecoins, causing deep dissatisfaction in the industry. Brown also supports Massachusetts Senator Elizabeth Warren's hearing on how terrorist organizations use cryptocurrency and continues to call for regulatory agencies to control the industry. Ironically, Senator Brown, who opposes cryptocurrency, not only lost to Senator Moreno, who supports cryptocurrency, but also lost his seat on the Senate Banking Committee, "said Ron Hammond, Director of Government Relations at the Blockchain Association." Moreno joined a strong lineup of other senators who support cryptocurrency and brought unique expertise to actually run blockchain companies. His in-depth understanding of cryptocurrency and conducting business in the United States will add support to the Senate Banking Committee As a member of the Senate Banking Committee, Moreno will have the authority to comment on legislative details related to US economic policies, including those related to cryptocurrency market structure, stablecoins, and the potential establishment of a national Bitcoin reserve. Several members of Congress have pledged to prioritize legislation on these topics next year. South Carolina Republican Senator Tim Scott will serve as the committee chair and decide which bills to prioritize. Scott has also expressed support for cryptocurrency, but has not received financial support from the industry like Moreno did. （Unchained）