Tim Scott, Senate Banking Committee Chair praised the GENIUS Act as a bipartisan victory that strengthens U.S. innovation and national security

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June 11, 2025

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Senate Banking Committee Chair Tim Scott, R-S.C., one of the bill's cosponsors, said the bill was a significant win for innovation and national security, while pointing to bipartisan efforts.

In the previous congressional session, what was then the Democrat-run Senate Banking Committee stood in the way of advancing crypto legislation, but its current Republican chairman, Senator Tim Scott of South Carolina, has become a crypto advocate. The chamber's overall pro-crypto sentiment has been growing stronger in this session and will be further cemented by Wednesday's votes.

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Week 24 of 2025