Senator Tim Scott is optimistic that the market structure bill will be passed by August.
Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, has recently indicated that he anticipates a crypto market bill to be approved and signed into law by August 2025.
He also pointed out that the Senate Banking Committee’s progress on the GENIUS Act, a comprehensive stablecoin regulatory bill, in March 2025 demonstrates the committee’s focus on crypto policy. In a statement to Fox News, Scott stated:
“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.”
Scott’s projection for the enactment of a crypto market structure bill aligns with the predictions of Kristin Smith, CEO of the crypto industry advocacy group Blockchain Association, about market structure and stablecoin laws being put into effect by August.
The Trump administration has emphasized that comprehensive crypto regulations are essential for safeguarding the value of the US dollar and positioning the country as a global leader in digital assets by attracting investment into US-based crypto companies.
Senator Tim Scott highlights the Senate Banking Committee’s goals and accomplishments in 2025. Source: Fox News
Related: Atkins becomes next SEC chair: What’s next for the crypto industry
Support for comprehensive crypto regulations is bipartisan
US lawmakers and officials foresee the establishment of clear crypto policies with bipartisan backing from Congress and the signing of these policies into law at some point in 2025.
During the Digital Assets Summit in New York City on March 18, Democratic Representative Ro Khanna expressed his expectation that both the market structure and stablecoin bills will be passed this year.
Khanna also mentioned that around 70-80 other representatives in the party understand the significance of enacting transparent regulations for digital assets in the United States.
Treasury Secretary Scott Bessent, pictured left, President Donald Trump in the center, and crypto czar David Sacks, pictured right, at the White House Crypto Summit. Source: The White House
Khanna highlighted that his fellow Democrats support dollar-pegged stablecoins due to the role of dollar tokens in expanding the demand for the US dollar globally through the internet.
Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, also presented at the conference and forecasted that stablecoin legislation would be enacted within 60 days.
Hines underscored the bipartisan goal in Washington DC of establishing US dominance in the digital asset realm.
Magazine: How crypto laws are changing across the world in 2025
Source link
#Senator #Tim #Scott #confident #market #structure #bill #passed #August
