Palmetto State News

Senate Banking Committee Chairman Tim Scott and House Financial Services Committee Chairman French Hill engaged in a discussion at the DC Blockchain Summit 2025, focusing on the future of digital assets regulation in the United States. Their conversation highlighted a mutual goal to keep innovation within the country by providing clearer regulatory frameworks for the digital assets industry.

Chairman Scott emphasized the potential benefits of digital assets, including democratizing finance and expanding access to financial services. He also mentioned the GENIUS Act, which recently advanced through the Senate Banking Committee with bipartisan support.

Scott expressed optimism about regaining leadership in digital innovation: “I am bullish that we are able to regain the high ground of digital supremacy. If you think about why the industry left our shores, so to speak, it’s because we made it impossible to do business here. The good news is that we’re making it easy to do business here and I believe that allows the onshoring to happen. We’re already seeing that, hearing that, and feeling it and more to come. I think what we have to do is make sure that we continue to be that city on a hill…in our approach. By doing that, we attract more folks here with the simple concept of innovation before regulation.”

The discussion underscored their commitment to fostering an environment where technological advancements can thrive while maintaining regulatory oversight.