04-12-2025, 09:40 PM
Senator Tim Scott is confident market structure bill passed by August
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTEvMDE5MmZkOTUtMzY5Zi03MmUwLTg0OGMtYjFhMTFhNDcxM2Iy.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTEvMDE5MmZkOTUtMzY5Zi03MmUwLTg0OGMtYjFhMTFhNDcxM2Iy.jpg" alt="Senator Tim Scott is confident market structure bill passed by August"></p><p>Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, recently said that he expects a crypto market bill to be passed into law by August 2025.<p>The chairman also noted the Senate Banking Committee's <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/senate-banking-committee-advances-genius-stablecoin-bill" rel="null" target="null" text="null" title="null">advancement of the GENIUS Act</a>, a comprehensive stablecoin regulatory bill, in March 2025, as evidence that the committee prioritizes crypto policy. In a <a data-ct-non-breakable="null" href="https://www.foxnews.com/video/6371363053112" rel="null" target="null" text="null" title="null">statement</a> to Fox News, Scott said:</p><blockquote>"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."</blockquote><p>Scott's timeline for a crypto market structure bill lines up with expectations from Kristin Smith, CEO of the crypto industry advocacy group Blockchain Association, of market structure and stablecoin legislation being <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/congress-stablecoin-market-structure-bills-august-blockchain-association" rel="null" target="null" text="null" title="null">passed into law by August</a>.</p><p>The Trump administration has emphasized that comprehensive crypto regulations are central to its plans for <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-stablecoins-ensure-dollar-hegemony-scott-bessent" rel="null" target="null" text="null" title="null">protecting the value of the US dollar</a> and establishing the country as a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-becomes-first-us-sitting-president-speak-at-a-crypto-conference" rel="null" target="null" text="null" title="null">global leader in digital assets</a> by attracting investment into US-based crypto firms.</p><figure><img alt="US Government, United States, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-04/01962bbc-cb76-7f27-a3d1-85715665362b" title=""><figcaption style="text-align: center;"><p><em>Senator Tim Scott highlights the Senate Banking Committee’s goals and accomplishments in 2025. Source: </em><a data-ct-non-breakable="null" href="https://www.foxnews.com/video/6371363053112" rel="nofollow noopener" target="_blank" text="null" title="https://www.foxnews.com/video/6371363053112"><em>Fox News</em></a></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/atkins-sec-crypto-industry-trump" rel="null" target="null" text="null" title="null"><em><strong>Atkins becomes next SEC chair: What’s next for the crypto industry</strong></em></a></p><h2>Support for comprehensive crypto regulations is bipartisan</h2><p>US lawmakers and officials expect clear crypto policies to be established and signed into law sometime in 2025 with bipartisan support from Congress.</p><p>Speaking at the Digital Assets Summit in New York City, on March 18, Democrat Representative Ro Khanna said he expects both the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stablecoin-market-structure-bills-done-this-year-rep-khanna" rel="null" target="null" text="null" title="null">market structure and stablecoin bills to pass</a> this year.</p><p>The Democrat lawmaker added that there are about 70-80 other representatives in the party who understand the importance of passing clear digital asset regulations in the United States.</p><figure><img alt="US Government, United States, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-04/01962bbd-d473-7b88-b64f-ceb1eff01eea" title=""><figcaption style="text-align: center;"><p><em>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: </em><a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=omP3GPxaVog&t=28s" rel="nofollow noopener" target="_blank" text="null" title="https://www.youtube.com/watch?v=omP3GPxaVog&t=28s"><em>The White House</em></a></p></figcaption></figure><p>Khanna emphasized that fellow Democrats support dollar-pegged stablecoins due to the role of dollar tokens in expanding demand for the US dollar worldwide through the internet.</p><p>Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, also spoke at the conference and predicted that stablecoin legislation would be <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-stablecoin-bill-likely-next-2-months-bo-hines" rel="null" target="null" text="null" title="null">passed into law within 60 days</a>.</p><p>Hines highlighted that establishing US dominance in the digital asset space is a goal with widespread bipartisan support in Washington DC.</p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-laws-changing-across-world-2025/" rel="null" target="null" text="null" title="null"><em><strong>How crypto laws are changing across the world in 2025</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/senator-t...er_inbound
<p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTEvMDE5MmZkOTUtMzY5Zi03MmUwLTg0OGMtYjFhMTFhNDcxM2Iy.jpg"></p><p><p style="float:right; margin:0 0 10px 15px; width:240px;"><img src="https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTEvMDE5MmZkOTUtMzY5Zi03MmUwLTg0OGMtYjFhMTFhNDcxM2Iy.jpg" alt="Senator Tim Scott is confident market structure bill passed by August"></p><p>Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, recently said that he expects a crypto market bill to be passed into law by August 2025.<p>The chairman also noted the Senate Banking Committee's <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/senate-banking-committee-advances-genius-stablecoin-bill" rel="null" target="null" text="null" title="null">advancement of the GENIUS Act</a>, a comprehensive stablecoin regulatory bill, in March 2025, as evidence that the committee prioritizes crypto policy. In a <a data-ct-non-breakable="null" href="https://www.foxnews.com/video/6371363053112" rel="null" target="null" text="null" title="null">statement</a> to Fox News, Scott said:</p><blockquote>"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."</blockquote><p>Scott's timeline for a crypto market structure bill lines up with expectations from Kristin Smith, CEO of the crypto industry advocacy group Blockchain Association, of market structure and stablecoin legislation being <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/congress-stablecoin-market-structure-bills-august-blockchain-association" rel="null" target="null" text="null" title="null">passed into law by August</a>.</p><p>The Trump administration has emphasized that comprehensive crypto regulations are central to its plans for <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-stablecoins-ensure-dollar-hegemony-scott-bessent" rel="null" target="null" text="null" title="null">protecting the value of the US dollar</a> and establishing the country as a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-becomes-first-us-sitting-president-speak-at-a-crypto-conference" rel="null" target="null" text="null" title="null">global leader in digital assets</a> by attracting investment into US-based crypto firms.</p><figure><img alt="US Government, United States, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-04/01962bbc-cb76-7f27-a3d1-85715665362b" title=""><figcaption style="text-align: center;"><p><em>Senator Tim Scott highlights the Senate Banking Committee’s goals and accomplishments in 2025. Source: </em><a data-ct-non-breakable="null" href="https://www.foxnews.com/video/6371363053112" rel="nofollow noopener" target="_blank" text="null" title="https://www.foxnews.com/video/6371363053112"><em>Fox News</em></a></p></figcaption></figure><p><em><strong>Related: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/news/atkins-sec-crypto-industry-trump" rel="null" target="null" text="null" title="null"><em><strong>Atkins becomes next SEC chair: What’s next for the crypto industry</strong></em></a></p><h2>Support for comprehensive crypto regulations is bipartisan</h2><p>US lawmakers and officials expect clear crypto policies to be established and signed into law sometime in 2025 with bipartisan support from Congress.</p><p>Speaking at the Digital Assets Summit in New York City, on March 18, Democrat Representative Ro Khanna said he expects both the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/stablecoin-market-structure-bills-done-this-year-rep-khanna" rel="null" target="null" text="null" title="null">market structure and stablecoin bills to pass</a> this year.</p><p>The Democrat lawmaker added that there are about 70-80 other representatives in the party who understand the importance of passing clear digital asset regulations in the United States.</p><figure><img alt="US Government, United States, Stablecoin" src="https://s3.cointelegraph.com/uploads/2025-04/01962bbd-d473-7b88-b64f-ceb1eff01eea" title=""><figcaption style="text-align: center;"><p><em>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: </em><a data-ct-non-breakable="null" href="https://www.youtube.com/watch?v=omP3GPxaVog&t=28s" rel="nofollow noopener" target="_blank" text="null" title="https://www.youtube.com/watch?v=omP3GPxaVog&t=28s"><em>The White House</em></a></p></figcaption></figure><p>Khanna emphasized that fellow Democrats support dollar-pegged stablecoins due to the role of dollar tokens in expanding demand for the US dollar worldwide through the internet.</p><p>Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, also spoke at the conference and predicted that stablecoin legislation would be <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/us-stablecoin-bill-likely-next-2-months-bo-hines" rel="null" target="null" text="null" title="null">passed into law within 60 days</a>.</p><p>Hines highlighted that establishing US dominance in the digital asset space is a goal with widespread bipartisan support in Washington DC.</p><p><em><strong>Magazine: </strong></em><a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-laws-changing-across-world-2025/" rel="null" target="null" text="null" title="null"><em><strong>How crypto laws are changing across the world in 2025</strong></em></a></p><template data-name="subscription_form" data-type="markets_outlook" label="Subscription Form: Markets Outlook"></template></p>
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https://cointelegraph.com/news/senator-t...er_inbound