Uncovering ‘crypto week’ – Senator Tim Scott reinforces future of digital assets

Key Points

1. The Senate Banking Committee, led by Senator Tim Scott, is working to finalize a regulatory framework for digital assets by September.

2. Senator Scott has partnered with Senator Cynthia Lummis, a known advocate for Bitcoin and digital assets.

3. Scott dismissed concerns about crypto's role in criminal activities, citing blockchain's transparency and AML compliance since 2013.

4. Economist Jonathan Levin supported this view, noting that blockchain investigations have successfully captured criminal proceeds.

5. Bitcoin investor Lark Davis highlighted Bitcoin's significant growth, contrasting it with the U.S. dollar's loss of purchasing power since 1971.