U.S. Democratic lawmakers have elected senior members of key committees for the 119th U.S. Congress, as the party prepares to become a minority party. California Rep. Maxine Waters will remain a senior member of the House Financial Services Committee until the new Congress is sworn in in 2025, the Democrats said in a Dec. 11 notice. It is reported that the House committee is responsible for legislation and policy affecting the financial services industry, including the cryptocurrency industry. Rep. Patrick McHenry of North Carolina, a Republican, will chair the committee until January 3 next year. Rep. Waters has served as a senior member of the committee since January 2023, when Republicans held a majority in the House, the top leadership position for the minority party. With McHenry's departure, a number of Republicans are considering candidates to chair the next committee, including French Hill, who chairs the digital assets subcommittee. The party is expected to decide on the leadership position within the next seven days.