Senate Banking Committee Chairman Tim Scott and House Financial Services Committee Chairman French Hill shared their unified stance on advancing U.S. leadership in digital finance during a joint panel appearance at the DC Blockchain Summit 2025 in Washington D.C. on March 26. The two Republican lawmakers stressed the need for a regulatory framework that supports blockchain innovation domestically rather than pushing it abroad. They emphasized their shared goal of crafting legislation that promotes financial access and keeps emerging technologies anchored in the United States.

Scott spotlighted the Generational Economic Nexus for Innovation and United States Leadership (GENIUS) Act, which recently cleared the Senate Banking Committee with strong bipartisan support. He spoke optimistically about the role of digital assets in creating broader access to financial tools and underscored the shift in policy needed to reverse industry flight from the U.S., stating:

I am bullish that we are able to regain the high ground of digital supremacy.

“If you think about why the industry left our shores, so to speak, it’s because we made it impossible to do business here. The good news is that we’re making it easy to do business here and I believe that allows the onshoring to happen. We’re already seeing that, hearing that, and feeling it and more to come,” the lawmaker added.

He also stressed the importance of maintaining a leadership mindset:

I think what we have to do is make sure that we continue to be that city on a hill… in our approach. By doing that, we attract more folks here with the simple concept of innovation before regulation.

Following the summit, Scott reinforced his message on social media platform X. “Rep. French Hill and I understand that our regulatory framework for digital assets must encourage innovation in the United States, not overseas. Working together, we can unlock pathways for success and empower communities to thrive,” he wrote. Hill echoed these sentiments throughout the panel, supporting legislation that balances oversight with flexibility to ensure the U.S. remains a competitive environment for blockchain-based development.

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