The cryptocurrency sector in the United States sees potential for regulatory improvements following the election of Senator John Thune from South Dakota as the new Senate majority leader.

With his selection, crypto enthusiasts are hopeful that Thune’s leadership will help push forward initiatives to establish a more favorable regulatory environment for digital assets.

Thune secured the majority leader position on November 13, surpassing Senator Rick Scott of Florida, who was endorsed by Elon Musk. In his victory speech, Thune emphasized his commitment, "We will work to make America prosperous again by streamlining the bureaucratic machine and overturning costly Biden-Harris regulations".