Golden Finance reported that Tim Scott, the incoming Republican Chairman of the U.S. Senate Banking Committee, delivered a speech at the Blockchain Association Policy Summit and said: "In my opinion, cryptocurrency is the next miracle of the world." Tim Scott promised that his group will have a cryptocurrency branch and will chair the creation of a digital assets subcommittee for the first time. Tim Scott said both houses of Congress and President-elect Donald Trump's administration will be working in the same direction to advance legislation, and two starting points will be the Financial Innovation and Technology for the 21st Century (FIT21) - the bill Aiming to create comprehensive crypto market guardrails, this year passed the House of Representatives by a wide bipartisan margin — as well as a stablecoin bill that was close to a bipartisan agreement but stalled due to some sticking points over the role of federal and state governments.