Crypto critic Elizabeth Warren expected to chair Senate Banking, likely to focus on crypto rules

U.S. Senator Elizabeth Warren has emerged as the expected next chair of the Senate Banking Committee following Democratic victories in the midterm elections, placing the longtime cryptocurrency industry critic in line for greater congressional oversight powers beginning in January 2027. Summary Elizabeth Warren is expected to lead Senate Banking following Democrats’ election victories, pending leadership arrangements. Her potential committee agenda includes cryptocurrency consumer protection, prediction markets, and Trump-related financial investigations. Warren previously sought stronger ethics restrictions in crypto legislation involving senior officials and family businesses. Bitcoin traded around $75,500 as Ethereum, XRP, and Solana recorded losses exceeding six percent. Crypto derivatives liquidations exceeded $1 billion during November 5’s selloff, primarily affecting leveraged long positions. The Wall Street Journal reported that Warren could lead the committee when the new Congress convenes, although the appointment has not been finalized. The Massachusetts Democrat currently serves as the panel’s ranking member, with Republican Senator Tim Scott holding the chairmanship. H...