In the Spotlight: Tim Scott - Roll Call

Senate Banking Chairman Tim Scott , R-S.C., is leading the charge to move forward on legislation that would establish regulations for the sale and transfer of digital assets known as stablecoins, saying he believed President Donald Trump gave Congress a “mandate” to send it to the president’s desk quickly. But House Financial Services Chairman French Hill, R-Ark., has indicated he wants to reconcile the Senate-passed bill with stablecoin legislation approved by his panel in April, with the possibility of attaching additional legislation that would establish a market structure for digital assets. Scott said he had been in “constant communication” with Hill, while Trump has used social media to call on the House to clear the stablecoins bill. Scott also indicated he would like to pass the market legislation separately by September.