Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and City Affairs, lately stated that he expects a crypto market invoice to be handed into legislation by August 2025.
The chairman additionally famous the Senate Banking Committee’s advancement of the GENIUS Act, a complete stablecoin regulatory invoice, in March 2025, as proof that the committee prioritizes crypto coverage. In a statement to Fox Information, Scott stated:
“We should innovate earlier than we regulate — permitting innovation within the digital asset house to occur right here at house is essential to American financial dominance throughout the globe.”
Scott’s timeline for a crypto market construction invoice strains up with expectations from Kristin Smith, CEO of the crypto business advocacy group Blockchain Affiliation, of market construction and stablecoin laws being passed into law by August.
The Trump administration has emphasised that complete crypto rules are central to its plans for protecting the value of the US dollar and establishing the nation as a global leader in digital assets by attracting funding into US-based crypto companies.
Senator Tim Scott highlights the Senate Banking Committee’s targets and accomplishments in 2025. Supply: Fox News
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Assist for complete crypto rules is bipartisan
US lawmakers and officers count on clear crypto insurance policies to be established and signed into legislation someday in 2025 with bipartisan help from Congress.
Talking on the Digital Belongings Summit in New York Metropolis, on March 18, Democrat Consultant Ro Khanna stated he expects each the market structure and stablecoin bills to pass this yr.
The Democrat lawmaker added that there are about 70-80 different representatives within the celebration who perceive the significance of passing clear digital asset rules in the US.
Treasury Secretary Scott Bessent, pictured left, President Donald Trump within the middle, and crypto czar David Sacks, pictured proper, on the White Home Crypto Summit. Supply: The White House
Khanna emphasised that fellow Democrats help dollar-pegged stablecoins as a result of function of greenback tokens in increasing demand for the US greenback worldwide via the web.
Bo Hines, the chief director of the President’s Council of Advisers on Digital Belongings, additionally spoke on the convention and predicted that stablecoin laws could be passed into law within 60 days.
Hines highlighted that establishing US dominance within the digital asset house is a aim with widespread bipartisan help in Washington DC.
Journal: How crypto laws are changing across the world in 2025
