ICYMI: Chairman Scott Highlights Need for Clarity Act to Secure U.S. Leadership in Digital Assets at SALT Conference

Washington, D.C. — Senate Banking Committee Chairman Tim Scott (R-S.C.) recently joined Digital Assets Subcommittee Chair Cynthia Lummis (R-Wyo.) for a fireside chat at the SALT 2026 Conference moderated by Kraken’s Jonathan Jachym to discuss the path forward for the Clarity Act and the importance of establishing clear, durable rules of the road for digital assets. Chairman Scott emphasized that America’s ability to remain the world’s leading economic force depends on attracting the best founders, innovators, and risk takers to build here in the United States.

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

On securing America’s economic dominance through digital assets:

“For me, it’s about economic dominance globally. If [America is] going to remain the most important economic force for good in the world, we have to do it by innovation, bringing the best founders, the greatest thinkers, and the best risk takers to our shores to produce it here.”

On certainty and predictability for innovators:

“Business needs certainty and predictability. Without those two pieces, [innovators] can find some other place that has it. Getting it done not just from a regulatory standpoint here in America, we need it done by embedding in the laws of our country so that we have a long-term perspective.”

On the importance of innovation, market structure, and technology:

“If we are going to be the most dominant economic superpower in the world, it requires innovation, it requires market structure, it requires technology. If we get that right, for generations to come, people will look back at this as the infancy of what changed.”

On forcing a vote on the Clarity Act:

“When we force a vote, it makes [Democrats] put their cards on the table, and the only way we got to a successful vote in the Banking Committee was when I was finally able to wrestle all 13 members on the Republican side.”

On why legislation is necessary:

“We should all be excited about the regulatory leadership under the Trump administration. [Chair] Atkins does a fabulous job. … Well, that’s what happens when it’s all regulation. You go from Atkins to perhaps Gensler again 2.0, 3.0. We can’t afford that. The only way to avoid that kind of seesaw is to embed it in legislation.”

On the path forward:

“At the end of the day, we win; there’s no question that this will become law. The only question is how we get it to the finish line and when does that happen. I think we have a really good shot at September.”

Chair Lummis on Chairman Scott’s work for community banks:

“Senator Scott put pro-community banking bills in the housing bill that’s already law, so they got tremendous relief from legislation they got scooped up into in about 2009 and 2010. So, they need to acknowledge that you went to bat for them in a way that they really needed relief.”