US Senator Announces When the Expected Major Bitcoin and Cryptocurrency Reform Regulation Will Be Passed!

Senate Banking Committee Chairman Senator Tim Scott announced that the much-anticipated cryptocurrency market structure bill is expected to become law by August 1, 2025.

Scott recently stated in a statement that it is important to promote innovation in the digital asset space before imposing heavy regulations.

Scott said, "There was an open resistance against crypto during the Biden administration and SEC Chairman Gary Gensler's term," and added, "What I often say is simply this: We must innovate before regulation."

The senator stated that the United States needs to support domestic crypto innovation to maintain its leadership in the global digital economy. "Allowing innovation in the digital asset space to happen here at home is critical for America's economic dominance worldwide," he said.

Scott also recently referred to the progress of the GENIUS Act, a comprehensive stablecoin regulatory framework successfully adopted by the Senate Banking Committee in March 2025. He characterized the legislation as a significant step towards establishing a regulatory foundation that supports rather than stifles crypto innovation.

Scott, who described the GENIUS Act as a bipartisan success, praised the committee's swift action and signaled optimism for the progress of broader cryptocurrency market structure legislation. "This is how you get things done," he said.

Scott also drew attention to President Donald Trump's stance on digital assets, stating, "President Trump is leading a crypto revolution starting from the Banking Committee."

With the increase in both political and legal momentum, Senator Scott reaffirmed that cryptocurrency policy continues to be a top priority for Congress in 2025.