Senator Tim Scott, who chairs the Senate Committee on Banking, Housing, and Urban Affairs, recently indicated that he anticipates a crypto market bill will be enacted by August 2025.
He also highlighted the Senate Banking Committee’s progression of the GENIUS Act—a thorough regulatory framework for stablecoins—back in March 2025, demonstrating the committee’s commitment to prioritizing cryptocurrency policy. In a statement to media, Scott remarked:
“We must foster innovation before we impose regulations. It’s vital that we enable progress in the digital asset sector to take place domestically to ensure America’s economic leadership on a global scale.”
Scott’s proposed timeline for the crypto market structure aligns with predictions from Kristin Smith, CEO of the Blockchain Association, who also expects market structure and stablecoin legislation to be finalized by August.
The current administration has reiterated that comprehensive cryptocurrency regulations are key to safeguarding the US dollar’s value and solidifying the nation’s position as a frontrunner in digital assets, aiming to attract investments into American crypto businesses.
US lawmakers and officials are optimistic about establishing clear cryptocurrency policies by 2025, gaining bipartisan backing from Congress.
During the Digital Assets Summit in New York City on March 18, Democrat Representative Ro Khanna expressed confidence that both the market structure and stablecoin bills will be approved this year. Khanna mentioned that around 70-80 other representatives within the party acknowledge the necessity of enacting definitive regulations for digital assets in the US.
Khanna pointed out that many Democrats are advocates for dollar-pegged stablecoins because they can help increase the global demand for the US dollar via the internet.
Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, also spoke at the event, forecasting that stablecoin legislation could become law within 60 days.
Hines further stressed that achieving supremacy in the digital asset domain is a bipartisan objective shared by many in Washington, D.C.