Senator Tim Scott Courts Democrats for Crypto Bill Amid Opposition from Warren

Senator Tim Scott, Chairman of the Senate Banking Committee, has publicly projected that 12 to 18 Democrats may support the CLARITY Act in September. The bill aims to establish regulatory clarity for the U.S. crypto market, aligning with former President Trump's vision of positioning the country as a global hub for digital finance.

Speaking at the Wyoming Blockchain Symposium, Scott framed the legislation as a bipartisan opportunity to provide certainty for the crypto industry. He identified Senator Elizabeth Warren as the primary obstacle, calling her the central "force to overcome" for Democrats who might otherwise back the bill.

The CLARITY Act seeks to delineate oversight responsibilities between the SEC and CFTC, addressing long-standing jurisdictional ambiguities in crypto regulation. Scott's public whip count appears designed to pressure hesitant senators into declaring their positions, transforming a policy debate into a political litmus test.