Maxine Waters to continue as senior member of House Financial Services Committee

Democratic lawmakers in the United States have selected senior members of key committees in the 119th U.S. Congress as the party prepares to become the minority party. California Rep. Maxine Waters will continue to serve as the senior member of the House Financial Services Committee until the new Congress is sworn in in 2025, the Democratic Party said in a notice on December 11. The House committee is reportedly responsible for legislation and policies that affect the financial services industry, including the cryptocurrency industry. Republican North Carolina Rep. Patrick McHenry will serve as the committee chairman until he leaves office on January 3 next year. Rep. Waters has served as the senior member of the committee, the highest leadership position in the minority party, since the Republicans took the majority in the House of Representatives in January 2023. With McHenry about to leave office, some Republicans are considering candidates for the next committee chairman, including French Hill, chairman of the Digital Assets Subcommittee. The party is expected to decide on the leadership position within the next seven days. (Cointelegraph)