US Senator Tim Scott, who also chairs the Senate Committee on Banking, Housing, and Urban Affairs, has voiced his expectation for a cryptocurrency market bill to become law by August 2025.
Scott cited the Senate Banking Committee’s recent progress with the GENIUS Act, a detailed stablecoin regulatory bill approved in March 2025, as a clear sign of the committee’s commitment to cryptocurrency regulations. In a discussion with Fox News, Scott remarked:
“Innovation should precede regulation. Ensuring that digital asset innovation is nurtured domestically is vital for maintaining America’s global economic supremacy.”
The anticipated timeline for the crypto market bill aligns with the predictions of Kristin Smith, the CEO of the Blockchain Association – a leading advocate for the crypto industry. She also projects the enactment of market structure and stablecoin laws by August.
The Trump administration has underlined the importance of comprehensive cryptocurrency regulations in safeguarding the value of the US dollar and positioning the country as a global leader in digital assets, thereby attracting investment into US crypto enterprises.
There is bipartisan agreement among US lawmakers and officials on the need for clear cryptocurrency policies, with expectations for these policies to be enacted into law in 2025. Speaking at the Digital Assets Summit in New York City on March 18, Democrat Representative Ro Khanna expressed his confidence that both the market structure and stablecoin bills would be passed this year.
Khanna also highlighted that a substantial number of his fellow Democrats (around 70-80 representatives) grasp the significance of creating clear digital asset regulations in the US. He further emphasized the Democrats’ support for stablecoins pegged to the dollar, attributing the growth in global demand for the US dollar on the internet to the influence of these dollar tokens.
Bo Hines, the Executive Director of the President’s Council of Advisers on Digital Assets, also predicted at the conference that the stablecoin legislation would be signed into law within 60 days. Hines emphasized the shared bipartisan goal of asserting US dominance in the digital asset space.
