🚨 U.S. Crypto Law Gets a Deadline! 🇺🇸📜 Final Vote Expected by September 30 🪙⚖️
Tim Scott sets a new target: Senate Banking Committee Chair Tim Scott announced that the comprehensive crypto regulation bill—including provisions for markets and stablecoins—will be finalized by September 30.
Shifting timelines: This revised date replaces President Trump’s original goal of wrapping everything up by August and aligns earlier than Senator Cynthia Lummis’s end-of-year estimate.
GENIUS Act on the move: The stablecoin-focused “GENIUS Act” has already passed the Senate and is softly awaiting swift House approval to accompany the broader market rules.
House progress and hurdles: While the House has advanced the Digital Asset Market Clarity Act (targeting market structure), it hasn’t yet addressed the GENIUS Act. French Hill, Chair of the House Financial Services Committee, noted some unresolved differences that could complicate near-term agreement.
This comes after earlier speculation suggesting that stablecoin rules might be voted on imminently and that full crypto regs might span several weeks into June. But Scott’s new timeline now points clearly toward the end of September.
🗓️ Bottom line
A comprehensive federal framework for cryptocurrencies—splitting into a market-structure bill and the GENIUS stablecoin act—is now slated for completion by September 30, pending House consideration. While both chambers are making progress, continued negotiation will be needed to reconcile differing versions of the bills.