Highlights
US lawmakers are still seeking to tighten the anti-money-laundering controls in GENIUS Act
Senate Banking Committee aims to finalize CLARITY Act by September 30
Anti-CBDC Surveillance State Act & Senate Crypto Market Structure Bill also expected to pass by end of September
In past few weeks, US Congress has pushed through several crypto bills, including GENIUS Act, CLARITY Act & Anti-CBDC Surveillance State Act.
President Donald Trump has already signed GENIUS Act into law while other two bills are now waiting for approval in Senate
Looking ahead, September is shaping up to be another big month for crypto regulation, with both pending bills expected to pass before end of month
Bills to Discuss in September 2025
GENIUS Act:
1st federal regulatory framework specifically for stablecoins has already been passed and signed into law.
Some US lawmakers are still seeking to tighten anti-money-laundering controls & restrictions on foreign issuers in this legislation.
CLARITY Act:
It sets up a comprehensive market structure for digital assets, clarifies regulatory oversight between agencies, and establishes new asset categories.
Senate Banking Committee aims to finalize this legislation by September 30, 2025
Bill will boost innovation in crypto space by ending regulatory ambiguity & protecting consumers
Anti-CBDC Surveillance State Act:
This seeks to prohibit Federal Reserve from issuing, researching or building retail central bank digital currency (CBDC) without explicit Congressional authorization
This will be debated in Senate in September as part of broader financial regulation, before becoming law
Senate Crypto Market Structure Bill:
It is also called “Responsible Financial Innovation Act of 2025
Expected to pass Senate Banking Committee by end of September 2025
Committee Chairman Tim Scott has expressed goal of voting out SEC-focused portion of legislation by September 30, 2025
Impact of GENIUS Act discussion on Stablecoin Issuers
Watching this closely, a crypto user wrote on X, “This is the last ‘quiet’ week in DC, but Congress has a full slate ahead of them when they return in September, most notably market structure legislation, which now sits in the Senate. Lot of dynamics at play, so here’s what to watch ahead for.”
After implementation of stricter rules in legislation, only banks, federally qualified fintech firms & state-regulated entities that meet standards will be eligible to issue stablecoins.
It will also intensify transparency & audits with AML / Financial Crime Controls