Senator Tim Scott Targets August 2025 for Crypto Market Structure Bill Passage
- Senator Tim Scott aims to pass a crypto market structure bill by August 2025.
- The Senate Banking Committee advanced the GENIUS Act stablecoin bill in March 2025.
Senator Tim Scott expects a crypto market structure bill to become law by August 2025. As chairman of the Senate Banking Committee, Scott highlighted the progress made in advancing crypto regulation. In March 2025, the committee moved forward the GENIUS Act, a stablecoin bill, showing its commitment to digital asset legislation.
Scotts timeline aligns with predictions from Kristin Smith, CEO of the Blockchain Association. Smith also expects the market structure and stablecoin bills to pass by August. The Trump administration backs this agenda, linking crypto regulations to safeguarding the U.S. dollar and attracting crypto firms to the country.
At the Digital Assets Summit in New York on March 18, Democrat Representative Ro Khanna supported the bills timeline. He said 7080 Democratic lawmakers recognize the need for digital asset regulation. Khanna also stressed support for dollar-pegged stablecoins, which expand the dollars global reach online.
Bipartisan Backing Fuels Crypto Bill Push
Bo Hines, Executive Director of the Presidents Council of Advisers on Digital Assets, agreed. He predicted stablecoin legislation would pass within 60 days. Hines emphasized that bipartisan backing exists to make the U.S. dominant in the digital asset space.
President Donald Trump, Treasury Secretary Scott Bessent, and crypto-advisor David Sacks also endorsed the policy direction. They reiterated that clear and comprehensive rules are essential to the administrations crypto strategy.
The proposed bill targets existing regulatory gaps that recent market activity has exposed. Lawmakers and crypto industry leaders continue working together to shape the final framework. Senator Scott emphasized that innovation should come before regulation to ensure U.S. leadership in this sector.
We must innovate before we regulate allowing innovation in the digital asset space to happen here at home is critical to American economic dominance across the globe, said Scott.
Market reactions remain mixed. Some welcome regulation for clarity and stability. Others fear it might limit innovation and growth. Despite these concerns, the industry watches legislative developments closely.
Highlighted Crypto News Today
WazirX Files Sanction Application: Court Hearing Set for May 13
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
