On December 23, it was announced that newly elected Republican Senator Bernie Moreno of Ohio will serve on the Senate Banking Committee, which oversees the U.S. Securities and Exchange Commission (SEC) and plays a key role in developing crypto legislation. In 2018, Moreno founded Ownum, a company that sells technology to put car ownership on the blockchain. Before entering politics, he was a member of The Digital Chamber, a blockchain policy group. Although Moreno did not include cryptocurrencies among his 16 core "policy priorities" on his campaign website, he did make multiple statements in support of the industry on X and spoke out against the harsh regulatory environment during his campaign months leading up to the election.