Nominee for Chairman of the Senate Banking Committee: Cryptocurrency is the world's "next miracle"

The future chairman of the Senate Banking Committee, Tim Scott, said at the Blockchain Association Policy Summit that Cryptocurrency is the world's next miracle. Tim Scott pledged that his committee will have a Cryptocurrency branch and will serve as the chairman of the newly created digital asset committee for the first time. Tim Scott said both houses of Congress and President-elect Donald Trump's administration will be working in the same direction to push for legislation, with the two starting points being the 21st Century Financial Innovation and Technology Act (FIT21), which aims to create comprehensive encryption market guardrails and passed the House of Representatives by a large bipartisan margin this year, and a stablecoin bill that came close to a bipartisan agreement but stalled due to some sticking points about the role of the federal and state governments.