U.S. Senate Banking Committee Chair Tim Scott announced that long-awaited cryptocurrency regulations will be completed by September 30.
During discussions with White House crypto advisor Bo Hines, Senate Banking Committee Chair Tim Scott confirmed that the new crypto market structure legislation would be finalized by September 30. This deadline is later than President Donald Trump’s original August target but earlier than Senator Cynthia Lummis’s projected year-end timeline.
Scott emphasized the urgent need for the House of Representatives to quickly pass the Senate-approved GENIUS Act, which addresses stablecoin regulation. However, House Financial Services Committee Chairman French Hill indicated that ongoing disagreements over stablecoin rules could delay progress. The White House has expressed clear support for passing the stablecoin bill without amendments.
