US Senate Banking Committee chair says crypto framework will be a priority
With a Republican majority having taken control of the US Senate in January, Tim Scott said the Banking Committee would have an “open-minded environment” for digital assets.
Republican Senator Tim Scott, recently elected chair of the US Senate Banking Committee, announced that developing a regulatory framework for digital assets would be one of the body’s priorities in the 119th Congress.
In a Jan. 15 notice, Senator Scott said the Banking Committee intended to focus on policies for financial inclusion that “create opportunity” in the US. The committee’s list of priorities included affordable housing, economic national security, oversight and digital assets.
“Under Chair Gensler, the SEC refused to provide clarity to the cryptocurrency industry, which has forced projects overseas,” said Scott. “Moving forward, the committee will work to build a regulatory framework that establishes a tailored pathway for the trading and custody of digital assets.”
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Author: Turner Wright
