According to Cointelegraph, Senator Tim Scott, chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has expressed confidence that a comprehensive crypto market bill will be enacted by August 2025. This expectation aligns with the Senate Banking Committee's recent progress on the GENIUS Act, a significant stablecoin regulatory bill, which was advanced in March 2025. Scott emphasized the importance of fostering innovation in the digital asset sector domestically to maintain American economic leadership globally. His timeline for the crypto market structure bill coincides with predictions from Kristin Smith, CEO of the Blockchain Association, who also anticipates the passage of market structure and stablecoin legislation by August. The Trump administration has underscored the necessity of comprehensive crypto regulations as part of its strategy to safeguard the U.S. dollar's value and position the country as a leader in digital assets by attracting investments to U.S.-based crypto firms.
Support for these comprehensive crypto regulations is notably bipartisan. U.S. lawmakers and officials are optimistic about establishing clear crypto policies with bipartisan backing from Congress by the end of 2025. At the Digital Assets Summit in New York City on March 18, Democrat Representative Ro Khanna expressed his belief that both the market structure and stablecoin bills would be approved this year. Khanna noted that approximately 70-80 other Democratic representatives recognize the importance of enacting clear digital asset regulations in the United States. Treasury Secretary Scott Bessent, alongside U.S. President Donald Trump and crypto czar David Sacks at the White House Crypto Summit, highlighted the administration's commitment to these initiatives. Khanna further emphasized the Democratic support for dollar-pegged stablecoins, citing their role in boosting global demand for the U.S. dollar via the internet. Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, also addressed the conference, predicting that stablecoin legislation would be enacted within 60 days. Hines pointed out that establishing U.S. dominance in the digital asset arena enjoys widespread bipartisan support in Washington, D.C.
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