Tim Scott champions cryptocurrency innovation: Tim Scott, the new Republican Chairman of the U.S. Senate Banking Committee, identifies cryptocurrency as a global marvel. He plans to lead a new Digital Assets Subcommittee, coordinating efforts with Congress and the Trump administration.
Legislation to drive stablecoin and innovation: Key legislative initiatives include the bipartisan 21st Century Financial Innovation and Technology Act (FIT21) and a stablecoin bill. FIT21 aims to regulate the cryptocurrency market comprehensively, while progress on the stablecoin bill is stalled due to governance disputes.