According to Odaily Planet Daily, Tim Scott, the incoming Republican chairman of the U.S. Senate Banking Committee, said at the Blockchain Association Policy Summit that cryptocurrency is the next miracle in the world.
Tim Scott pledged that his team would set up a cryptocurrency branch and chair the creation of a digital asset subcommittee for the first time. He said both houses of Congress and the administration of President-elect Trump would work together to push for legislation.
Starting points for legislation include the Financial Innovation and Technology Act for the 21st Century (FIT21), which seeks to establish crypto market guardrails and has passed the House of Representatives, and a stablecoin bill that has stalled over questions about the roles of federal and state governments.