Tim Scott is facing a crypto calamity.
Landmark digital asset legislation that the Senate Banking chair hoped to advance out of committee Thursday is in extreme jeopardy after one of the industry’s most influential executives announced his opposition Wednesday, setting off a scramble in the Senate and the White House to rescue the bill.
Scott has now postponed the markup, and it’s unclear where he goes from here.
The last-minute backlash is crypto’s biggest flex yet on Capitol Hill, after the industry’s largest players doled out more than $100 million on races across the country to ensure their allies controlled the 119th Congress.
Scott is…
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