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Julia Smith
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Julia Smith
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Senate Banking Committee Chairman Tim Scott (R-SC) believes that his committee can hold a vote on key crypto market structure legislation by December of this year, the U.S. lawmaker said during a Fox Business appearance on Tuesday.
Senator Tim Scott Eyes Crypto Legislation Vote
In a November 18 interview with Maria Bartiromo on her program “Mornings With Maria,” Scott said he thinks the Senate Banking Committee will vote on crypto market structure by the end of next month.
The U.S. lawmaker said that if the crypto bill were to pass, the legislation would serve as a way of “protecting consumers while increasing the likelihood of America being the most dominant economic power for the next 100 years.”
“By the end of this year, next month, we believe we can mark up and vote in both committees and get this to the floor of the Senate early next year so that President Trump will sign the legislation making America the crypto capital of the world,” Scott said.
Key Crypto Bill Has Faced Delays in the Past
News of Scott’s latest crypto market structure prediction comes after he vowed to drive a path forward by the end of September.
Scott largely deflected responsibility for the bill’s delay onto Democrats, claiming the other side of the aisle has been “stalling.”
“The Democrats have been stalling and stalling and stalling because they don’t want President Trump to make America the crypto capital of the world,” Scott told Bartiromo. “It’s not just for President Trump, it’s for the American people.”
Just last month, White House Crypto & AI Czar David Sacks met with U.S. lawmakers on Capitol Hill, where he stated that the long-awaited crypto bill could pass before the end of 2025.
“I also had productive meetings with leading Democratic members, and believe we are in an excellent position to pass market structure legislation with bipartisan support this year,” Sacks wrote in an October 23 X post.
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