Rumor has it that the US Senate Banking Committee (SBC) plans to create a crypto-specific subcommittee under Trump’s proactive administration. FOX Business reports the initiative comes from the SBC’s new chair, Republican Senator Tim Scott, and is a ‘top priority.’ Scott considers Senator Cynthia Lummis, who advocated for Trump’s Bitcoin strategic reserve venture , to lead the subcommittee. Countdown to Committee’s Chair Announcement Begins Ten days remain until Trump’s inauguration, and tension is mounting. While Trump’s geopolitical aspirations grab headlines, real work is happening in the background. The SBC oversees all banks and financial regulators in the country, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The crypto subcommittee would be the main authority for digital assets, so its regulations should theoretically take precedence over any conflicting rules issued by the SEC or CFTC. Senate aides claim that Senator Lummis is the top candidate for the subcommittee’s chair position. We can expect the Senate to announce her approval in the coming days. Senators Dave McCormick, Bernie Moreno, and Thom Tillis, all strongly pro-crypto, may also join the committee. Notably, McCormick and Moreno received over $40M in donations from crypto industry players during the 2024 election. On the flip side, crypto skeptic Elizabeth Warren won her third term in the SBC. At the end of the day, the truth always lies somewhere in the middle, so opposing opinions are very much welcome. Mersinger Might Replace Behnam as CFTC Chair The CFTC also anticipates positive changes. Rostin Behnam, current CFTC chair, pledged to step down when Trump takes office. Behnam spent his four years in the office under the motto ‘intimidate, suppress, enforce’ and called for even stricter crypto regulation. Behnam’s possible successor is a CFTC commissioner, Summer Mersinger, who served as a staffer for Senator John Thune for over a decade. Mersinger advocated for crypto in November when she admitted the CFTC’s regulation by enforcement approach was making her uncomfortable. Your Chance to Slap Trump and Win Big No matter how much Trump stands up for crypto, there’s no shortage of people wishing to slap him. Catslap ($SLAP) makes it possible. The innovative Slap-to-Earn mechanic works exactly what it sounds like – you slap a character of your choice (Musk is also on the list, as is Chuck Norris) to earn points, which you can then exchange for $SLAP tokens. The most active slappers get a chance to win a huge Slapdrop. Season 1 ends in less than 24 hours, and 10 lucky winners will receive a part of the $100K prize. Those who didn’t make it to the top 10 will also receive a token airdrop, so no one gets left behind. Currently trading at $0.0027, $SLAP may see some upside after the $1M worth $SLAP token burn planned for January 31. On top of that, $SLAP’s 30% staking APY reduces selling pressure by encouraging investors to hold onto their tokens. Early cat lovers (or Trump haters) have already secured returns above 2,500% since the project’s launch, and $SLAP’s best days are far from over. $SLAP is currently available on the centralized exchange MEXC or via Best Wallet . Join the Catslap X and Telegram communities for updates on the new Slapdrop season. Closing Remarks Trump’s administration promises to be the most pro-crypto ever, which should benefit the entire market. But let’s not count our chickens before they hatch. The crypto market remains volatile, so DYOR and only invest as much as you can afford to lose.
