27-6-2025 – The United States is poised to cement its legislative framework by the close of September, according to Senator Tim Scott, who leads the Senate Banking Committee. Addressing journalists on Capitol Hill, Scott expressed confidence that the comprehensive bill, encompassing both stablecoins and wider cryptocurrency regulations, is on course for completion by September 30. This timeline marks a brisk pace, defying earlier predictions of a protracted process extending into the year’s end.
The GENIUS Act, a pivotal piece of legislation targeting stablecoin oversight, has already cleared the Senate. Scott has called on the House of Representatives to expedite its passage to President Donald Trump’s desk, echoing the president’s urgency to enact robust crypto laws. “Swift action on the GENIUS Act serves the American public’s interests,” Scott declared, underscoring its alignment with Trump’s vision for the industry. Bo Hines, a key White House crypto adviser, lauded Scott and Senator Cynthia Lummis for their steadfast commitment to this agenda. Lummis, who initially foresaw a lengthier timeline, rallied behind Scott’s deadline, affirming her support with a nod to his leadership.
Yet, challenges linger. The House of Representatives remains cautious, with Representative French Hill of the House Financial Services Committee noting discrepancies between the Senate’s GENIUS Act and the House’s own stablecoin proposal. These differences could temper the pace of progress. Additionally, the Agriculture Committee’s approval of the bill’s market structure components is still pending, posing a potential snag in the otherwise ambitious schedule.
Despite these hurdles, the prospect of a fully realised U.S. cryptocurrency framework by late September offers a beacon of clarity for an industry long navigating regulatory ambiguity. If the pieces align, this landmark legislation could redefine the landscape for digital assets in America.
