First on FOX – Fox News Digital, Republican Senator South Carolina in an exclusive interview with former presidential candidate Tim Scott He shared his views on his first 100 days as chairman of the Senate Banking Committee, breaking down the trade war with China, the future of cryptocurrencies, and the controversial debanking policy.
Republicans hold power in both Congress rooms President Donald Trump In the White House, party leaders and supporters across the country had high hopes for the GOP policy agenda and had the ability to pass key laws quickly and effectively.
But that wasn’t the perfect start to the 119th Congress. House Republicans have a seven-seat majority, and the GOP Civil War forced internal debate that delayed key parts of the law, like Trump’s “big and beautiful” tax bill passed last Thursday. Only 216-214.
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Sen. Tim Scott (Rs.C.) took a photo in his office in Washington, DC, Senate Hartville. (Marvin Joseph/The Washington Post byotty Images)
On the Senate side, Republicans account for three more seats than Democrats. With 100 members in the upper chamber, the same principle of internal harmony must exist for the law to advance.
Despite the narrow margin, Scott says some of the policy goals the committee has set as “achieved.”
“I was hoping within the first 100 days that some crypto or digital asset laws would mark up and run through the committee,” Scott told Fox News Digital. “The good news is that the act of genius is engraved. Head to the Senate floor. Second, the act of the company. Focusing on removing it. Head to the Senate floor.
Trump’s role in working with Congress leaders is All Cabinet Members It has reached the Senate so far and has been approved for confirmation at the fastest pace in over 20 years.
“We’ve been running these people through the committee,” Scott said. “It’s a lightning approach, but the good news is that President Trump and the people of America deserve his team.
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Senate Banking Committee Chairman Tim Scott explains the first 100 days of Congress about the trade war with China and the timeline for implementing key crypto policies. (Reuters)
Outside of the candidates, some notable issues have passed the Banking Committee in the first 100 days. And one of the hottest items in banking today is the implementation of cryptocurrency into the US market and everyday life. In particular, genius laws and bills “To provide payment regulations.” It is a major advancement for the Crypto market, indicating that the federal government is taking the digital asset market more seriously.
But Scott criticized it Biden administration Due to lack of enthusiasm to obtain pro-cryptic laws signed to legal laws.
“Under the Biden administration and the SEC’s Gensler, they just didn’t like Crypto. What I often said is simply this. We have to innovate before we can regulate. That means that innovations happen here in the field of digital assets are important to the economic domination of America around the world,” he explained.
The genius act passed the committee in March and is now heading to the Senate floor. Scott predicted a timeline as to when the bill will be signed into law, and told Fox that he believes the law will be “to the law by August.”
The bill passed the committee 18-6, 18-6, with Senators Mark Warner, D-Indiana, Andy Kim, D-New Jersey, Reuben Gallego, D-Arizona, Lisa Blunt Rochester, D-Pennsylvania, Angela Brocks and D-Mariland.
The cryptocurrency market has been extremely unstable in the past few weeks, largely due to ongoing tariff policies and trade conflicts. (Kurt “Cyberguy” Knutsson)
However, the crypto market has been very volatile in the past few weeks, along with US stocks, mainly because of Trump. Controversial tariff policy Trade standoff.
When asked about pressure between the US and China, Scott supported Trump’s strategy, telling Fox News Digital: It exists, but the future of America. ”
When this is an American consumer, businesses will feel a 145% Chinese tariff stab
Scott argued that establishing economic advantages would be necessary to “a hard conversation and a tariff regime, if they intend to lie, cheate and steal against us, to push China into the smallest corner of the world economy.”
He added, “We are not going to give them complete and free access to our market. That’s called common sense.”
President Donald Trump is sitting for an interview with Fox News. (Fox News/Hannity)
On Friday, China raised tariffs on US imports to 125%. This claims that a 145% tariff will be imposed on Chinese imports.
For the rest of the 119th Congress, Scott is optimistic about ongoing policies and still upcoming legislation, as he is headed for what will be an important midterm election year.
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“I am grateful that President Trump is in the White House,” the former presidential candidate added.
Preston Mizell is an author of Fox News Digital, which covers Breaking News. Story tips can be sent to preston.mizell@fox.com and x @mizellpreston
