Banking Committee Chairman Tim Scott told Fox News Digital that the Genius ACT “is the first of its kind” when the bill is adopted by the Senate.
The Senate adopted the governing and establishing national innovation laws on stable interest (genius) on Tuesday, after Significant Crypto Legislation She collided with several barriers before waking up through the finish line in the top chamber.
One of the largest supporters of the bill is the chairman of the Senate Bank Committee and the former presidential candidate Tim ScottRs.c., which led the bill through its committee with the support of the Democrats. Scott said the brilliant act of “is the first of its kind” after the bill adopted the Senate in an exclusive interview with Fox News Digital.
Senator Tim Scott, Rs.c., appears during the confirmation of the hearings in Washington, Colombia District, February 27. (Al Drago / Bloomberg via Getty Images / Getty Images)
“We are on the compartment to do what has never been done in the country’s history,” Scott explained. “It is more about democratization than Democrats or Republicans. It is about the mother -of -the -one who raised me, it may hope that this digital economy will actually reduce the costs and allow it to use these dollars for other priorities.”
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The bill on the two -party, which was introduced by Senator Bill Hagehi, Ten. blocked the bill In early May. Most Senate leader John Tun, R-South Dakota, said he thought or ‘just democrats interfere because they want to refuse Republicans or President TrumpTwo -party victory “at the time of voting last month.
The key component of the legislation is the creation of a regulatory framework for payments of stable prices, the signal that Congress and the federal government perceive the crystals more seriously.
Treasury Secretary Scott of the Seat Applauded the legislation on Tuesday morning on the eve of the bill, which contributes to the support of the Trump administration in the crystals.
Washington, Colombia District – March 7: US Treasury Minister Scott Bavert and President Donald Trump watch during the White House Digital House State Dining House summit on March 7, 2025 in Washington, Columbia District. Trump spent s (Anna Moneymaker / Getty Images / Getty Images)
“The latest reporting projects that stablecoins can grow into a market by 3.7 trillion. By the end of the decade, “less Posted on x. “This scenario becomes more likely when adopting a brilliant law.”
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Now the bill is heading to the house, and when it passes the lower chamber, it will be called to the president’s table. Senator Tim Scott said Fox that he was optimistic that a genius law would be signed by August.
“Exit the Senate, which has passed in the Senate, means that we have done our part of the work, the part I control most, I hope, and noted all over the country,” said Scott Fox News Digital. “And then the House will start working to find out this process. I believe that by August we will see the presidential signature on legislation.”
The number of people worldwide who have cryptocurrencies worth at least $ 1 million. (Istock)
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The branch leaders also rallied around the bill when the President of the Institute of Politics Solana and the former Blockchain President Christine Smith said that Fox News Digital, that the legislation would unlock “huge potential”.
“This brilliant law will set clear stabils rules, unlocking huge potential for more efficient payments and financial services,” Smith explained. “We applaud the senators and their staff who have advocated this critical basis and expect quick action in the ward to translate it through the finish line.”
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The timing of the voting of the house remains unclear, but Senator Scott and the Trump administration before obtaining the law on brilliant legislation are likely to play a role in the process.
