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Recent Stances On Crypto
Tim Scott
@SenatorTimScott
Digital assets and crypto are the future - plain and simple.
It was a pleasure to join the Wyoming Blockchain Symposium this morning to discuss how I’m working to keep America on the cutting edge of digital asset innovation.
Since taking over as Chairman of @BankingGOP, @SenatorTimScott has worked tirelessly to advance digital asset legislation.
And under his leadership, the committee is delivering results.
SOON: I’m joining the Wyoming Blockchain Symposium to discuss my work on @BankingGOP to deliver on President Trump’s promise to make America the crypto capital of the world.
Tune in at 11:25am ET! youtube.com/watch?v=34fdBE…
.@CynthiaMLummis is endorsing Senator @JonHusted. Sherrod Brown’s anti-crypto, anti-innovation, anti-Trump crusade failed the people of Ohio. Let’s keep him retired.
Implementing the GENIUS Act is essential to securing American leadership in digital assets.
Stablecoins will expand dollar access for billions across the globe and lead to a surge in demand for U.S. Treasuries, which back stablecoins.
It’s a win-win-win for everyone involved: ecoin issuers, and the U.S. Treasury Department.
Big win for putting an end to Operation Chokepoint 2.0.
The Fed announced it’s killing the targeted supervision of digital asset banking activities. There’s still more to do, but this is real progress toward a level playing field for crypto.
Sec. Bessent is spot on about the importance of bitcoin as a store of value in the digital age.
I look forward to continue working with @SecScottBessent & @howardlutnick to identify budget-neutral ways to continue growing our bitcoin reserve & outpacing adversaries in the race.
From opening new investment opportunities to protecting our supply chain from Trump’s attacks, cryptocurrency can benefit everyone.
Credit card payments cost businesses up to 3.5% in fees, which is then passed on to the consumer. Money orders are a popular way to send money, but can be expensive and hard to access. Stablecoins—digital dollars powered by blockchain—let people send money instantly for pennies, eliminating a hidden tax we all pay.
As a former small business owner, I know how difficult it is to build a small business. Traditional credit card or check payments can take up to 7 days to clear, further exacerbating these difficulties. With blockchain, payments settle in seconds, giving businesses immediate access to funds they can use to grow their business and a greater ability to compete globally—critical when 74% of economic activity is outside the U.S.
I’m encouraged by bipartisan bills like the GENIUS and CLARITY Acts, which create a clear, bipartisan, pro-innovation regulatory framework for digital assets. Inconsistent state regulations have driven 1 in 3 blockchain innovators overseas—hurting our economy and competitiveness. #CryptoDayOfAction
.@SecScottBessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR.
America needs the BITCOIN Act.
Today is National Crypto Day of Action—a day to highlight the millions of Americans invested in crypto and the need for a clear, structured regulatory framework for both the industry and consumers.
Last month, with my support, the House passed the bipartisan CLARITY Act—a landmark bill that establishes a long-overdue regulatory framework for digital assets, laying the foundation for a safer, more innovative, and forward-looking financial future.
#cryptodayofaction
Last month, the House passed three landmark crypto bills—the CLARITY Act, the ANTI-CBDC Surveillance State Act, and the GENIUS Act, the latter of which was ultimately signed into law by the President.
The GENIUS Act establishes a federal framework for payment consumers, fostering innovation, and strengthening the U.S. dollar’s role as the world’s reserve currency.
Tomorrow is National #CryptoDayofAction, a reminder that 52M Americans own crypto and deserve a clear regulatory framework.
Last month, I helped pass the bipartisan CLARITY Act to:
Protect consumers
Support innovation
Give U.S. entrepreneurs the certainty to lead the future of finance
Wyoming led the way with the creation of the LLC in the 1970’s, and has now created DUNAs to provide a legal entity tailor-made for digital asset companies. The Cowboy State continues to build the legal foundation American innovators need to succeed. tinyurl.com/2aktbedy
Congrats to Uniswap for setting down roots in Wyoming! Our state’s laws for digital assets are best-in-class, and I commend the Wyoming Legislature for its foresight in creating decentralized nonprofit associations.
From 2023. The Federal Reserve is not building a “retail CBDC”. They are building CBDC architecture and want to restrict self-custody. An account-based future for money is their vision and their objective. Congress must change their course swiftly.
The most pro-crypto @POTUS in history just unlocked an incredible opportunity for American investors by allowing crypto to be held in 401(k)s.
This is a monumental shift and will help to cement our place as the crypto capital of the world.
It’s been 200 days of WINNING since President Trump returned to the White House.
From peace deals to trade deals to Big Beautiful deals, President Trump is delivering on what he promised, and faster than any administration in modern history.
Here’s what’s happened since Day 100: Passed the One Big Beautiful Bill, delivering real tax relief to the middle class and small businesses, while preventing the largest tax increase in American history.
Illegal crossings at record lows.
8 major trade deals signed.
NATO nations increased defense spending to 5% of GDP. A number ‘experts’ once considered unheard of.
Crushing regulations at 10-to-1.
Terminated Biden’s wind energy favoritism.
Religious liberty protected.
U.S. AI Action Plan unveiled.
Stopped child gender surgeries nationwide.
Men banned from women’s sports.
Border wall construction resumed.
GENIUS Act signed into law.
White House released digital asset dominance framework.
Egg prices down 67% from peak.
13 million acres opened for drilling.
Merit-based federal hiring restored.
Memorial Day saw lowest gas prices in 20+ years.
Golden Dome missile defense funded and launched.
SCOTUS upheld transgender military ban.
Markets surging.
Murder rate dropping to historic lows.
Brown University reversed DEI policy.
Columbia paid $200M to feds.
UPenn reversed trans sports policy.
DOJ forced out UVA’s woke president.
Launched a founding-era exhibit with PragerU.
Declassified intel exposing Obama’s Russia hoax directive.
Crypto investments lack transparency and are far too volatile to serve as retirement investment tools.
The President's executive order will jeopardize Americans’ hard-earned retirement savings.
Hard-working Americans deserve retirement security.
Thanks to @POTUS’s leadership, now millions of Americans can secure their financial futures by including digital assets in their 401(k)s.
Today is a historic day for digital assetsZ
President Trump is right to take bold action to end political debanking—and I fully back his executive order. No American should be denied banking access because of their political views, religious beliefs, or lawful business activities.
We’ve seen this happen across the country: firearms manufacturers, energy producers, and crypto innovators dropped by their banks—targeted not for risk, but for politics.
As Chairman of the Oversight & Investigations Subcommittee, I’ve led the fight to expose and stop this abuse. President Trump’s action is a major step forward—and now Congress must finish the job.
That’s why I introduced the SAFE Guidance Act and support the FIRM Act to ensure no administration can weaponize the banking system again.
Access to financial services isn’t optional in a free market—it’s essential.
meuser.house.gov/media/press-re…
President Trump isn’t just leading on debanking because it happened to him, he’s doing it to protect every American - to prevent it from happening to any pastor, firearms manufacturer, coal mine, or Crypto company ever again. I’m leading the fight with him.
President Trump is taking bold steps to ensure Operation Chokepoint 2.0 never happens again. Thank you, @POTUS, for bringing the digital asset industry back to the United States.B
I’m still stunned that @AGPamBondi brought this case. Biden’s war on crypto was illegal and unjust. President Trump clearly reversed course. Apparently, they didn’t get the memo in New York?
This is the equivalent of prosecuting gun makers for what someone else does with a gun.
MEMPHIS’ @RepCohen warns against the Trump/GOP plan to have the federal government buy $100 BILLION worth of bitcoin and not let it sell for 20 years, which @chrislhayes & more have called a “heist”in plain sight.
@wgoggin calls it “just plain stupid”.
thehackernews.com/2024/12/north-…
Chairman Atkins’ clear-eyed leadership on crypto strikes the right balance: giving our innovators room to grow while protecting consumers. Let’s ensure the future of finance is built here at home.
NEWS: In 2024, Americans lost $246.7 million to crypto ATM scams. The U.S. Department of Treasury’s FinCEN has issued a notice urging financial institutions to report and remain vigilant of all suspicious activity related to crypto ATMs, including fraud and scams against seniors.
The Chairman of @BankingGOP, @SenatorTimScott and I are leading the FIRM Act to stop woke regulators from weaponizing the financial system. Whether it’s crypto, firearms, natural gas, or coal, no legal industry should be blacklisted by woke regulators.
The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.
The "Blockchain Regulatory Certainty Act" (H.R. 3533) provides a safe harbor for non-controlling blockchain developers and service providers, exempting them from being classified as money transmitters or financial institutions, and thus from associated licensing and registration requirements, unless they have control over users' digital assets. This aims to prevent such entities from incurring liability for unlicensed or unregistered conduct.
The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".
This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
Protect consumers
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