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Sen. Tim Scott says Senate should hold first vote on cryptocurrency 'clarity' bill before recess
Summary
Sen. Tim Scott told interviewer Maria the Senate should take a first vote on a cryptocurrency 'clarity' bill before leaving for recess, saying Republicans are coalescing and that the measure will protect consumers while enabling innovation.
Sen. Tim Scott, chairman of the Senate Banking Committee, said the Senate should hold "the 1st vote before we leave" on a cryptocurrency "clarity" bill and that Republicans are coalescing to move the legislation forward. He said procedural progress would allow debate on remaining issues while maintaining momentum.
"This is something we should have the 1st vote before we leave without any question," Scott said, adding that "we have the time to get it done." He argued the bill would protect consumers and "allow innovation to happen here in America," and said passing clarity would set rules for crypto firms, including rewards programs that currently lack consistent regulatory standards. Scott also cited a concession from President Trump on an ethics provision as helpful to advancing the measure. John Zune was named in the interview as someone who could "tee it up for a vote" before the Senate leaves.
The senator acknowledged there are Republican holdouts but said he had been working to win procedural votes and ‘‘picked up more votes yesterday,’’ allowing the panel to advance debate. He framed party unity as a path toward bringing Democrats into agreement but also accused Democrats of moving the goalposts and delaying progress.
