- Tim Scott says crypto market reform bill could pass by August 2025.
- Senate backs stablecoin rules and custody clarity for digital assets.
- Bipartisan lawmakers push stablecoin law to boost the dollar’s digital role.
Senator Tim Scott, Chairman of the U.S. Senate Banking Committee, has confirmed that market structure reforms for the crypto industry are actively progressing and could pass into law by August 2025. His remarks reflect growing urgency from lawmakers to establish clear frameworks for digital asset markets while preserving U.S. competitiveness in blockchain innovation.
According to a report by Mario Nawfal’s Roundtable, Scott emphasized the committee’s recent progress, including advancement of the GENIUS Act in March. In a Fox News interview, Scott stated, “We must innovate before we regulate,” stressing the importance of allowing digital innovation to grow domestically to reinforce American economic dominance on the global stage.
Stablecoin and Market Infrastructure Are Top Priorities
The announcement revealed that the market reform agenda includes stablecoin oversight, digital asset custody policies, and market integrity standards. These efforts aim to provide clarity around institutional exposure, risk controls, and responsible issuer behavior within the U.S. crypto ecosystem.
Senate leaders are focused on building frameworks that protect investors while encouraging capital formation in blockchain sectors. Custody plans involve tighter security rules, audit trails, and defined regulatory jurisdictions for tokenized assets, creating a more trustworthy environment for financial institutions and retail participants alike.
Bipartisan Support Rises as Industry Advocates Weigh In
At the Digital Assets Summit in New York City, Democrat Representative Ro Khanna affirmed that stablecoin and market structure bills have bipartisan backing and are likely to pass this year. He stated that more than 70 House Democrats now view digital asset regulation as essential to preserving dollar strength in a digital economy.
Bo Hines, Executive Director of the President’s Council on Digital Assets, also predicted stablecoin legislation within 60 days. He noted that expanding U.S. dollar usage through internet-based stablecoins is a key bipartisan goal aimed at reinforcing American leadership in financial technology and global monetary systems.
