U.S. Senate Aims to Finalize Crypto Legislation by September 30 — Stablecoin & Market Structure in Focus

U.S. Senate Aims to Finalize Crypto Legislation by September 30 — Stablecoin & Market Structure in Focus

1. Senator Tim Scott Sets Clear Deadline: September 30

Senator Tim Scott, Chairman of the Senate Banking Committee, announced that comprehensive cryptocurrency legislation is expected to be completed by September 30.

Speaking after a meeting with White House crypto advisor Bo Hines, Scott told reporters that the deadline is “a realistic goal.”

While this timeline comes later than former President Trump’s push for August, it is sooner than the year-end estimates suggested by some lawmakers.

2. Bill Overview: Dual Regulatory Focus on Market Structure & Stablecoins

The upcoming legislation is divided into two major categories:

① Comprehensive crypto market regulation: Defines how the market is built, which agencies supervise it, and what rules apply

② Stablecoin regulation: Addresses issuance and management of digital tokens pegged to fiat currencies like the U.S. dollar

This dual approach aims to close existing regulatory gaps and provide legal clarity for digital assets within the U.S.

3. GENIUS Act Clears Senate, But House Approval Still Pending

The Senate has already passed the GENIUS Act, with Scott urging the House to swiftly approve the bill and send it to the President’s desk.

Former President Trump has also expressed strong support for the legislation.

However, the House is still weighing its options

Rep. French Hill, Chair of the House Financial Services Committee, stated that the Senate’s GENIUS Act needs further alignment with the House’s stablecoin bill.

The House Agriculture Committee must also approve parts of the market structure component — a process that has not advanced as quickly.

4. Senate Momentum Strong, But House Negotiations Loom

While the Senate is showing clear urgency and commitment to passing the legislation, inter-committee coordination in the House remains a key challenge.

Differences in regulatory authority, terminology, and technical definitions between the Senate and House bills could lead to delays unless resolved through negotiations.