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US Senator Toomey Highlights Digital Currency Regs as He Eyes Banking Panel Chairmanship
The Pennsylvania senator is eager to focus on fintech if he assumes the top post at the Senate Banking Committee.
Senate Banking Committee member Pat Toomey (R-Pa.) said Monday he intends to take up digital currency regulation and payments system reform if he becomes the committee’s next chairman.
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- “There’s very exciting things happening in technology, fintech, payment systems, the possibility of a digital currency – all of these things are really important and exciting changes and they're going to require some new legislation, some new regulation,” Toomey said.
- Toomey is the likely pick for the Banking committee chairmanship if Republicans maintain control of the chamber this November.
- A former Wall Street banker and longtime proponent of deregulation, Toomey has praised blockchain in the past. He once said the government shouldn’t “strangle this baby in its crib.”
- The two-term senator also disclosed Monday he will not seek reelection in highly competitive Pennsylvania in 2022.
Kevin Reynolds
Kevin Reynolds was the editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
