Republican South Carolina Sen. Tim Scott took to Fox News on Thursday to push a cryptocurrency bill opposed by a host of organizations opposed to human trafficking. Scott argued that the legislation should be passed by the Senate because it would help mothers.
The Senate, where Scott currently chairs the Committee on Banking, Housing, and Urban Affairs, is currently considering the Digital Asset Market Clarity Act, which is meant to accelerate the use of cryptocurrency like bitcoin. Concerns have been raised that the Clarity Act would allow crypto companies and those who use cryptocurrencies to evade traditional government oversight, including people involved in human trafficking and illicit arms sales.
The law is backed by the crypto industry, who have been lavishing the Trump administration and other elected officials, from both parties, with campaign donations and support.
Appearing on Fox Business, Scott positioned the bill as a boon to mothers instead of big business and illegal industries.
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