Senate Banking Committee Chair Sen. Tim Scott (R-S.C.) said Tuesday that Sen. Elizabeth Warren (D-Mass.) is “standing in the way” of bipartisan agreement on cryptocurrency industry regulation.
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Warren A Force To Overcome, Says Scott
Speaking at the Wyoming Blockchain Symposium, Scott singled out Warren as the “real force” preventing Democrats from participating.
“The forces against it. Let me just say it clearly, like Elizabeth Warren standing in the way of Democrats wanting to participate,” the GOP lawmaker said. “It is a real force to overcome.”
Scott Hopes For Democratic Support For Another Crypto Bill
Scott emphasized the importance of developing a good relationship with those on the opposite side of the aisle, adding that he met some Democrats individually during the passage of the GENIUS Act. As many as 18 Democrats crossed the party line to vote for the bill in the Senate
“I believe that we’ll have between 12 and 18 Democrats at least open to voting for market structure, a far more complicated piece of legislation,” Scott added.
Warren’s office didn’t immediately return Benzinga’s request for comment.
Scott’s criticism follows a discussion draft for market structure legislation released by him and fellow Republican Senators, building on the passage of the CLARITY Act in the House last month. The GENIUS Act, also known as the stablecoin bill, hsa already been signed into law after passing both chambers.
Warren Remains Skeptical
Warren has been a persistent critic of the cryptocurrency bills, particularly due to President Donald Trump-linked ventures, such as the Official Trump TRUMP/USD meme coin and the USD1 dollar-pegged stable coin. She has labeled the bills as a corporate “giveaway” that supercharges Trump’s corruption.
She has expressed dissatisfaction with the support of cryptocurrency bills by Democratic lawmakers, arguing that it prioritizes industry interests over public demands for a fair economy and affordable living.
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