Senate Banking Committee Chairman Tim Scott and House Financial Services Committee Chairman French Hill participated in a fireside chat at the DC Blockchain Summit 2025. The event, held in Washington, D.C., focused on their mutual goal of providing regulatory clarity for the digital assets industry to ensure that innovation remains within the United States.
Chairman Scott highlighted the GENIUS Act, which has advanced out of the Senate Banking Committee with strong bipartisan support. He emphasized its potential to democratize finance and increase access to financial services.
Scott expressed optimism about regaining digital supremacy: “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.”
He further stated, “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.”
