Senate Banking Committee Chairman Senator Tim Scott announced that the highly anticipated cryptocurrency market structure bill is expected to become law by August 1, 2025.
Scott recently stated that it is important to encourage innovation in the digital asset space before imposing heavy regulations. “There was clear resistance to crypto under the Biden administration and SEC Chairman Gary Gensler,” Scott said. “What I often say is simply this: We need to innovate before we regulate.”
The senator said the United States must support domestic crypto innovation to maintain its leadership in the global digital economy. “Allowing innovation in the digital asset space to happen right here at home is critical to America’s economic dominance around the world,” he said.
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Scott also touched on the recent advancement of the GENIUS Act, a comprehensive stablecoin regulatory framework that was successfully passed by the Senate Banking Committee in March 2025. He described the legislation as a crucial step toward establishing a regulatory foundation that supports crypto innovation rather than stifling it.
Describing the GENIUS Act as a bipartisan success, Scott commended the committee for its swift action and signaled optimism for broader crypto market structure legislation to move forward. “That’s how you get things done,” he said.
Scott also noted President Donald Trump’s stance on digital assets, saying, “President Trump is leading a crypto revolution, starting with the Banking Committee.”
With both political and legislative momentum growing, Senator Scott reaffirmed that cryptocurrency policy remains a top priority for Congress in 2025.
*This is not investment advice.
