Senate Banking Chair Predicts Major Crypto Bill to Pass by August

U.S. Senate Banking Committee Chairman Tim Scott announced a potential breakthrough for cryptocurrency regulation. He predicts that comprehensive legislation, addressing the treatment of digital assets, could pass as early as August 2023. This follows an ambitious agenda outlined in the committee’s first 100 days, which saw progress on several bills, including the GENIUS Act on stablecoin payments and the FIRM Act aimed at resolving debanking concerns.