Tim Scott is set to become the Republican chairman of the U.S. Senate Banking Committee. At the Blockchain Association Policy Summit, he stated that cryptocurrency is 'the next miracle of the world.' 🌟

He has promised to establish a dedicated cryptocurrency branch and to serve as the inaugural chairman of the Digital Assets Subcommittee. This indicates that U.S. lawmakers are taking the future development of cryptocurrency seriously. 📈

Both chambers of Congress and the Trump administration will work together to promote legislation, focusing on the Financial Innovation and Technology for the 21st Century Act (FIT21) and the stablecoin bill. Although the stablecoin bill has faced some hurdles regarding the roles of federal and state governments, bipartisan efforts are underway to reach a consensus. 🔍