US Congress, Cryptocurrency regulation bill expected to pass in August

Senator Tim Scott Interview About Goals And Achievements Of The Senate Banking Committee In 2025 (Source: Fox News)

The United States Congress is expected to pass regulatory legislation on the cryptocurrency market structure and stablecoins by August. The Trump administration has also set this as a key policy task, expressing its intention to make the United States a hub for the digital asset industry.

Senate Banking Committee Chairman Tim Scott said in a recent interview with Fox News, “To induce cryptocurrency innovation within the United States, it is important to allow innovation before regulation,” and noted that Congress is actively pursuing related legislation. He highlighted the 'GENIUS Act', a stablecoin regulation passed by the Senate Banking Committee last March, as an example, emphasizing that cryptocurrency policy is being focused on at the committee level as well.

This trend is also confirmed in the industry. Christine Smith, President of the Blockchain Association, a U.S. blockchain industry lobbying group, anticipated that a consensus on regulatory passage has formed across both parties in Congress and that legislation may be possible by August.

Similar voices are coming from the Democratic Party. Congressman Ro Khanna stated at the Digital Asset Summit in New York last March, “Legislation related to market structure and stablecoins will be passed by the end of this year.” He particularly noted that 70 to 80 members within the party agree on the necessity of clear regulations on digital assets.

Congressman Khanna emphasized that internet-based dollar-linked stablecoins contribute to expanding global dollar demand and explained that the Democratic Party also highly values these functions.

Beau Hynes, Director of the White House Digital Asset Advisory Committee, also anticipated at the same event that "the stablecoin regulatory legislation is highly likely to be legislated within 60 Days." He emphasized, “Securing U.S. leadership in the digital asset market is a common goal for both parties.”

This legislative trend is being evaluated as not just industrial regulation, but a full-scale movement for the United States to seize global leadership in digital finance.