Republican Senators Advocate Light-Touch Crypto Regulation at Bitcoin 2024

U.S. Sen. Tim Scott, top Republican on Senate Banking Committee, made crypto-friendly debut at Bitcoin 2024, criticizing SEC Chair Gensler. Scott may become next committee chairman, vowing to support Sen. Lummis' bill for U.S. to hold bitcoin as strategic reserve. MicroStrategy's Saylor advocated U.S. should acquire 4 million BTC. ARK Invest's Cathie Wood praised idea of U.S. bitcoin reserve. Independent presidential candidate Robert F. Kennedy promised to make bitcoin a strategic reserve asset..

Republican Senators Lummis and Scott vowed to provide a 'light touch' crypto regulation if they gain Senate control, arguing individuals should be free to make their own financial decisions about investing in crypto, which they see as essential to 'liberty and freedom'.