ICYMI: Chairman Scott Calls for Senate Action on Clarity Act, Highlights Momentum for Digital Asset Market Structure on Fox Business’ Mornings with Maria

Washington, D.C. — Today, Senate Banking Committee Chairman Tim Scott (R-S.C.) joined Fox Business’ Mornings with Maria to discuss the path forward for the Clarity Act, legislation to establish clear rules of the road for digital assets. Chairman Scott emphasized that the Senate has time to act before leaving Washington and highlighted growing Republican momentum behind the bill.

Click here or on the image above to watch the full interview.

On the need for Senate action on the Clarity Act:

“This is something we should have the first vote on before we leave, without any question. Leader Thune has an opportunity to tee it up for a vote before we leave. … The good news is we have the time to get it done.”

On protecting consumers and keeping innovation in America:

“This is in the best interest of protecting consumers and allowing innovation to happen here in America. Really important time for us. We’ll get it done. Republicans are coalescing, and that’s great news.”

On bringing Democrats to the table:

“When Banking Committee Republicans coalesced around the bill, everyone getting in line, then we were able to get Democrats to come aboard. We’ll do the same type of strategy once we have the vast majority of Republicans saying, yes, I believe the Democrats come to the table and find a way to yes.”

On democratization for everyday Americans:

“If you want democratization, if you want single mothers to have more access to their resources immediately, you want cryptocurrency and digital assets to blossom here at home in America. Democrats can join us and make democratization a reality for everyday working Americans today.”

On growing support for a procedural vote:

“I worked on Republican members yesterday. We made progress. We picked up more votes yesterday. Every single hour, we get more folks saying yes to the procedural vote.”

On creating rules of the road for digital assets:

“Right now, Maria, crypto firms can do anything they want because there is no regulatory standard for rewards. Passing the Clarity Act actually creates rules of the road that are in the best interest of the American financial system, and it will maintain our supremacy around the world as the number one economic superpower for the future.”