The nominee for the chair of the Senate Banking Committee has pledged that his panel will have a cryptocurrency branch

2024-12-18 08:18:59

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ChainCatcher news, the incoming Republican chairman of the U.S. Senate Banking Committee, Tim Scott, stated at the Blockchain Association Policy Summit: "In my view, cryptocurrency is the next miracle of the world."

Tim Scott promised that his committee will have a cryptocurrency branch and will serve as the first chairman of the newly created Digital Assets Subcommittee.

Tim Scott indicated that both chambers of Congress and the incoming administration of President Donald Trump will work in the same direction to push for legislation, with two starting points being the "Financial Innovation and Technology for the 21st Century Act" (FIT21), which aims to establish comprehensive crypto market safeguards and passed the House this year with significant bipartisan support, and a stablecoin bill that is close to a bipartisan agreement but has stalled due to some sticking points regarding the roles of federal and state governments.

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