{"id":43074,"date":"2025-08-20T06:01:45","date_gmt":"2025-08-20T06:01:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=43074"},"modified":"2025-08-20T06:01:45","modified_gmt":"2025-08-20T06:01:45","slug":"senate-banking-chair-predicts-strong-democratic-support-for-crypto-bill","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=43074","title":{"rendered":"Senate Banking Chair Predicts Strong Democratic Support for Crypto Bill"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Senate Banking Committee Chair Tim Scott says he expects between 12 and 18 Senate Democrats to cross party lines and support a new crypto market structure bill. <\/span><span data-preserver-spaces=\"true\">That\u2019s<\/span><span data-preserver-spaces=\"true\"> a surprising figure, especially given the usual partisan gridlock around financial regulation.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Individual Outreach to Build Bipartisan Consensus<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Scott has been speaking directly with Democratic Senators, including some who <\/span><span data-preserver-spaces=\"true\">aren\u2019t<\/span><span data-preserver-spaces=\"true\"> on the Banking Committee, to drum up early support. <\/span><span data-preserver-spaces=\"true\">He\u2019s<\/span><span data-preserver-spaces=\"true\"> aiming to build momentum before the bill officially lands in the Senate this September.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Big move for Crypto! <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f4bc.png\" alt=\"\ud83d\udcbc\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Senate Banking Chair Tim Scott says 12\u201318 Democrats are ready to back his digital asset market structure bill <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f5f3.png\" alt=\"\ud83d\uddf3\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><br \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f4dc.png\" alt=\"\ud83d\udcdc\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Builds on the GENIUS Act<br \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/23f3.png\" alt=\"\u23f3\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Aims for September vote<\/p>\n<p>Bipartisan momentum is growing for clear <a href=\"https:\/\/twitter.com\/hashtag\/CryptoRegulation?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#CryptoRegulation<\/a> <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f525.png\" alt=\"\ud83d\udd25\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>\u2014 Crypto Daily Alpha (@CryptoNews4A) <a href=\"https:\/\/twitter.com\/CryptoNews4A\/status\/1957917784593297538?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">August 19, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span data-preserver-spaces=\"true\">House Momentum and Legislative Foundations<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">This<\/span> <span data-preserver-spaces=\"true\">isn\u2019t<\/span><span data-preserver-spaces=\"true\"> coming out of nowhere. The House passed the Digital Asset Market Clarity Act back in mid-July, with 78 Democrats voting in favor. The bill spells out which regulator handles what, splitting responsibilities between the SEC and CFTC. It also sets up a way for crypto platforms to register if they meet decentralization standards.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in August2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">The <\/span><span data-preserver-spaces=\"true\">Senate\u2019s<\/span><span data-preserver-spaces=\"true\"> Proposed Bill: Responsible Financial Innovation Act<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The <\/span><span data-preserver-spaces=\"true\">Senate\u2019s<\/span><span data-preserver-spaces=\"true\"> version is a more detailed follow-up. Scott released a draft of the Responsible Financial Innovation Act of 2025 on July 22. Senators Cynthia Lummis, Bill Hagerty, and Bernie Moreno are co-sponsors. Their version adds definitions for things like ancillary assets, updates disclosure rules, and includes new language that lets financial holding companies offer digital asset services.<\/span><\/p>\n<div class=\"cpp-crypto-chart cpp-crypto-chart-99btc cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC Price (USD)\" data-main-color=\"#4caf05\" data-watermark-image=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/99bitcoins-logo.png\" data-chart-style=\"99btc\">\n<div class=\"cpp-chart-top-section\">\n<div class=\"cpp-chart-info-section\">\n<div class=\"cpp-chart-logo\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\"><\/div>\n<div class=\"cpp-chart-coin-details\">\n<div class=\"cpp-chart-labels-row\">\n<div class=\"cpp-chart-coin-name\">Bitcoin<\/div>\n<div class=\"cpp-chart-price-info\">Price<\/div>\n<div class=\"cpp-chart-market-cap\">Market Cap<\/div>\n<\/div>\n<div class=\"cpp-chart-values-row\">\n<div class=\"cpp-chart-coin-symbol\">BTC<\/div>\n<div class=\"cpp-chart-price\"><\/div>\n<div class=\"cpp-chart-market-cap-value\">$2.25T<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"cpp-chart-selectors cpp-chart-selectors-99btc\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24h<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7d<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30d<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1y<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div>\n<\/div>\n<p><canvas id=\"cpp-chart-68a561f08becd\" class=\"cpp-chart-container cpp-chart-container-99btc\"><\/canvas><\/div>\n<h2><span data-preserver-spaces=\"true\">Political Hurdles: Elizabeth <\/span><span data-preserver-spaces=\"true\">Warren\u2019s<\/span><span data-preserver-spaces=\"true\"> Opposition<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Still, <\/span><span data-preserver-spaces=\"true\">there\u2019s<\/span><span data-preserver-spaces=\"true\"> a big obstacle in the way. Senator Elizabeth Warren has made it clear she opposes the bill. Scott called her a real force to be reckoned with. <\/span><span data-preserver-spaces=\"true\">Warren\u2019s<\/span><span data-preserver-spaces=\"true\"> concerns focus on the idea that the <\/span><span data-preserver-spaces=\"true\">bill<\/span><span data-preserver-spaces=\"true\"> could weaken the <\/span><span data-preserver-spaces=\"true\">SEC\u2019s<\/span><span data-preserver-spaces=\"true\"> authority and open the door to looser oversight at a time when regulators are already stretched thin.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Vote Math and Legislative Strategy<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The numbers matter here. With 53 Republicans and 47 Democrats in the Senate, Scott needs at least seven Democrats to join in and hit the 60-vote threshold to move the bill forward. <\/span><span data-preserver-spaces=\"true\">That\u2019s<\/span><span data-preserver-spaces=\"true\"> why <\/span><span data-preserver-spaces=\"true\">he\u2019s<\/span><span data-preserver-spaces=\"true\"> targeting Senators outside the committee. If they come on board, it gives cover for others who might be on the fence.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Timeline for Finalization and Next Steps<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Scott wants the <\/span><span data-preserver-spaces=\"true\">Senate\u2019s<\/span><span data-preserver-spaces=\"true\"> version finalized by the end of September. Once that happens, both chambers will need to hammer out the differences between the Senate draft and the House-passed bill. Only then will it be ready for a final vote.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Potential Impact on Crypto Regulation<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">If it passes, the bill would bring long-awaited clarity to how digital assets are regulated in the U.S. It would define roles for the SEC and CFTC, provide legal certainty to exchanges and token issuers, and establish a route for decentralized networks to demonstrate that<\/span><span data-preserver-spaces=\"true\">\u00a0they <\/span><span data-preserver-spaces=\"true\">don\u2019t<\/span><span data-preserver-spaces=\"true\"> fall under securities laws.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Senator Tim Scott expects 12\u201318 Democrats to support the new crypto bill, potentially breaking the partisan deadlock.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Direct outreach is being used to secure support ahead of the Senate\u2019s review of the Responsible Financial Innovation Act.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The House already passed a similar bill with bipartisan support, laying the groundwork for the Senate version.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Opposition from Senator Elizabeth Warren remains a major hurdle due to her concerns over SEC oversight.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        If passed, the bill would clarify roles for the SEC and CFTC and set a legal path for decentralized crypto networks.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/up-to-18-democrats-could-back-senate-crypto-bill\/\">Senate Banking Chair Predicts Strong Democratic Support for Crypto Bill<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Senate Banking Committee Chair Tim Scott says he expects between 12 and 18 Senate Democrats to cross party lines and support a new crypto market structure bill. That\u2019s a surprising figure, especially given the usual partisan gridlock around financial regulation. Individual Outreach to Build Bipartisan Consensus Scott has been speaking directly with Democratic Senators, including [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-43074","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43074"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43074\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}