Republican Senator Tim Scott proposed at the Wyoming Blockchain Symposium the establishment of a subcommittee focused on the digital asset industry to facilitate more dialogues and hearings, thus accelerating progress. Senator Scott has always held a friendly stance towards the cryptocurrency industry and is currently the leading Republican representative in the Senate Banking Committee led by Democratic Senator Sherrod Brown from Ohio. If Republicans regain control of the Senate in the upcoming election, Scott is expected to lead the committee next year. Additionally, Senator Cynthia Lummis pointed out that while there may be limited legislative opportunities in 2024, some bills related to cryptocurrencies could still be passed this year.