When the chairman of the bank committee starts publicly talking about the "crypto capital of the world," it indicates that the cryptocurrency industry has transitioned from a wild growth phase to a stage where it is being taken over and integrated into the national financial system. This represents the United States' genuine attempt to elevate cryptocurrency as a national-level industrial competitive tool.

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U.S. Senate Committee on Banking, Housing, and Urban Affairs

The goal of this legislation is to make the United States the global crypto capital of the world, ensuring that the next generation of job opportunities and innovation remains in the U.S. rather than flowing overseas.

When we establish clear rules, we can instill confidence in entrepreneurs to start companies, hire employees, and grow right here in the U.S.

At the same time, this will make it more difficult for criminals and foreign adversaries to exploit new technologies to defraud Americans or undermine the U.S. financial system. After months of serious, bipartisan efforts, it is time to push this legislation forward and deliver real results for the American people.

Chairman Tim Scott

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