Senator Tim Scott is taking crypto regulation seriously and plans to make it a priority in the new congress. Will this be the year for comprehensive crypto regulation?
Senator Tim Scott, the Republican ranking member on the United States Senate Banking Committee, reportedly plans to develop “a bipartisan regulatory framework” for cryptocurrencies.the crypto framework as one of his priorities for the 118th Congress. He reportedly was skeptical of some aspects of crypto, alluding to the collapse of exchanges like FTX — “high-profile failures resulted in lost consumer assets” — and potential uses for illicit finance.
Scott recently took over the ranking member position from former Senator Pat Toomey, who served out his term without seeking reelection. Toomey supported many legislative efforts encouraging innovation in the digital asset space, while Committee Chair Sherrod Brown
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