With the Republican Party now holding control over the Senate, House of Representatives, and the Executive Branch following Donald Trump’s re-election, crypto advocacy groups are directing their attention toward Congress, which many are calling the most pro-crypto in US history.
Key Committees Poised to Shape Crypto Policies
Advocacy groups have identified the Senate Banking Committee and the House Financial Services Committee as pivotal players in shaping crypto legislation.
Congressman French Hill, who was appointed chairman of the House Financial Services Committee in December 2024, has been vocal about the need for a clear regulatory framework. Hill has pledged to prioritize introducing a crypto market structure bill within the first 100 days of the legislative session.
Similarly, Senator Tim Scott, now chairman of the Senate Banking Committee, has promised to advance pro-crypto reforms. Speaking at the Bitcoin 2024 conference, Scott criticized the previous administration for regulatory stagnation and vowed to fight for legislation supporting digital assets.
“We need to remove the roadblocks preventing progress,” Scott told Bitcoin voters during his 2024 campaign. Following the GOP’s sweeping electoral victory in November 2024, Scott’s committee has focused on delivering on these promises.
Lummis Leads Subcommittee on Digital Assets
Wyoming Senator Cynthia Lummis was appointed in January 2025 to chair the Senate Banking Subcommittee on Digital Assets. Lummis outlined an ambitious agenda, including:
- Crafting comprehensive digital asset legislation.
- Regulating stablecoins.
- Creating a framework for a Bitcoin strategic reserve.
Lummis also emphasized preventing government overreach in the digital asset space, signaling a shift toward more industry-friendly regulations.
Investigation Into Operation Chokepoint 2.0
On January 24, the House Committee on Oversight and Government Reform launched an investigation into Operation Chokepoint 2.0, a reported effort to limit crypto access to financial services. The committee has reached out to crypto leaders and advocacy groups for input, signaling increased scrutiny of anti-crypto measures taken under previous administrations.
Challenges and Opportunities for Pro-Crypto Legislation
While crypto advocates are optimistic, challenges remain. Stand With Crypto, a voter education group, highlighted the GOP’s historic pro-crypto Congress, with 278 pro-crypto representatives in the House and 20 in the Senate. However, they warned that passing comprehensive regulations may face delays due to competing political priorities or resistance from anti-crypto lawmakers.
Some of crypto’s most vocal opponents, such as Democrat Senators Elizabeth Warren, Dick Durbin, and Representative Brad Sherman, remain in office following re-election in 2024. Their continued opposition could stall progress on key legislation.
Time-Sensitive Momentum
Industry leaders also caution that Republicans may have a limited window to enact meaningful crypto reform. Joe Doll, general counsel for NFT marketplace Magic Eden, noted that the GOP has only two years before midterm elections, which could shift the balance of power in Congress.
The 2024 elections offered a unique opportunity for the crypto industry to advance its agenda, but time and political dynamics remain critical factors in determining success.
