The two Republican senators claimed that if their party wins control of the Senate, they will stop the SEC’s “regulation by enforcement.”
Republican United States Senators Cynthia Lummis and Tim Scott spoke at the Bitcoin 2024 conference on July 26, stating that the current leadership of the Senate Banking Committee is “in the way” of American innovation, especially as it relates to Bitcoin. “We have to get rid of the folks who are in the way,” Tim Scott stated, implying that voters should throw out the Democratic majority in the November elections.
Senator Lummis claimed that if Republicans win a majority in the November elections, they will appoint Scott as Chairman of the Banking Committee, which will put an end to anti-Bitcoin (BTC) legislation coming out of that body. “Republicans are going to be in the majority next year,” she stated. “And Senator Tim Scott is going to be the chairman of the Senate Banking Committee.”
Scott vowed that if he is elected chairman, he will use his power to put pro-Bitcoin legislation up for a vote and pass it through the Senate if possible. “The one thing I will absolutely guarantee will be done is watching your legislation get a vote, pass the Banking Committee, and we’re going to fight to make it a law in the United States of America,” he stated, claiming that this would accomplish “setting Bitcoin free at home, [...] free at last.”
