The U.S. Senate Committee on Banking, Housing and Urban Affairs published an update on Chairman Tim Scott’s fireside chat with House Financial Services Committee Chairman French Hill at the DC Blockchain Summit 2025, where they emphasized a shared goal of delivering regulatory clarity for digital assets and keeping innovation in the United States. Scott also highlighted the GENIUS Act, which advanced out of the Senate Banking Committee with broad bipartisan support. In the discussion, Scott argued that firms shifted activity offshore because the United States had made it difficult to do business, and said a more permissive approach could support “onshoring” and maintain US “digital supremacy.” The remarks also framed the policy direction as “innovation before regulation” and pointed to digital assets’ potential to democratize finance and expand access to financial services.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-03-26
U.S. Senate Committee on Banking, Housing and Urban Affairs chair spotlights GENIUS Act progress and calls for digital asset regulatory clarity
The U.S. Senate Committee on Banking, Housing and Urban Affairs highlighted a fireside chat between Chairman Tim Scott and House Financial Services Committee Chairman French Hill at the DC Blockchain Summit 2025, focusing on regulatory clarity for digital assets and retaining innovation in the U.S. Scott emphasized the GENIUS Act's bipartisan support and advocated for a permissive regulatory approach to encourage onshoring and maintain U.S. digital supremacy, underscoring digital assets' potential to democratize finance and expand access to financial services.