- Senator Tim Scott expects a comprehensive crypto market bill to pass by August 2025.
- The Senate Banking Committee advanced the GENIUS Act stablecoin bill in March 2025.
- Bipartisan lawmakers support crypto regulation, aiming for stablecoin laws within 60 days.
Senator Tim Scott has stated that lawmakers will finalise the crypto market structure bill by the time he takes over as chair of the Senate Committee on Banking, Housing and Urban Affairs in August 2025.The committee achieved progress through digital asset regulations by advancing the GENIUS Act, which defines stablecoin parameters.
During his interview, Senator Scott stressed the need to enable innovation despite building well-defined regulatory structures. According to the official, the United States must allow local innovation because it directly affects the nation’s standing in worldwide digital economic markets. The GENIUS Act obtained approval from the committee in March 2025 to become significant legislation supporting digital assets.
Bipartisan Support Grows for Crypto Regulation and Stablecoins
Members of Congress across both political parties actively endorse the development of thorough cryptocurrency legislation. Democrat Representative Ro Khanna predicted during the Digital Assets Summit in New York City on March 18 that the government would approve both market structure and stablecoin bills during 2025. According to his estimation, 70 to 80 members of the Democratic Party have declared their support for a specific digital asset regulatory framework.
Khanna emphasized how stablecoins connected to U.S. dollar values are crucial in the current financial landscape. According to him, dollar-pegged digital currencies use digital transactions to boost dollar demand worldwide. The United States is currently promoting legislative changes that will strengthen the US dollar’s standing in the approaching digital financial system.
Bo Hines appeared alongside Khanna before the audience as executive director of the President’s Council of Advisers on Digital Assets. According to his prediction, stablecoin legislation will receive approval from the president to become law in the next 60 days, continuing the bipartisan legislative momentum through 2025.
Crypto Policy Becomes a Key Priority for U.S. Economic Strategy
Digital asset regulation is a central priority in the current administration’s economic policies. Officials acknowledge the need for well-defined crypto laws to achieve U.S. dominance in digital finance while attracting investment. Under President Donald Trump, the Trump administration maintains that crypto regulations are essential to dollar preservation and U.S. digital asset company development.
The White House Crypto Summit brought Treasury Secretary Scott Bessent and White House adviser David Sacks to join President Trump as they discussed policy matters. These officials’ top priority is guiding the U.S. toward establishing worldwide benchmark standards for digital assets while safeguarding its economic position in the market.
The crypto market structure bill continues to move towards potential approval, receiving support from both congressional committees and bipartisan legislators until August 2025. Lawmakers maintain dialogue with stakeholders while working on proposal improvements to achieve better implementation results.
