After months of debate, the U.S. crypto regulation bill is now expected to be finalized by September 30, according to Senator Tim Scott, chairman of the Senate Banking Committee. Speaking at a Capitol Hill press event, Scott confirmed that the legislation—covering both stablecoins and broader crypto regulations—is on track for completion by the end of September.
Trump’s Timeline vs. Congress Reality
President Donald Trump had pushed for crypto laws to be ready by August. While that won’t happen, Scott’s updated timeline is still faster than what many expected. Just a day earlier, Senator Cynthia Lummis had suggested the process might drag into year-end. But during the event, she threw her support behind Scott’s deadline, saying, “Yes, sir. You’re the chairman, and we will do as you wish.”
GENIUS Act Ready—But House Still Hesitating
A big piece of the puzzle is the GENIUS Act, a bill focused on regulating stablecoins. The Senate passed it last week, and Scott urged the House of Representatives to fast-track it to the President’s desk, aligning with Trump’s stance. “The president’s mandate to move the GENIUS Act immediately is in the best interest of the American people,” Scott emphasized.
White House crypto adviser Bo Hines backed the push, praising both Scott and Lummis for staying aligned with the administration’s crypto vision. But not everyone’s in sync. Representative French Hill from the House Financial Services Committee pointed out that differences still exist between the Senate’s version and the House’s stablecoin bill. That could delay things.
One More Hurdle?
Another hurdle is the Agriculture Committee, which must also approve the market structure part of the bill. So far, it hasn’t matched the pace of the Banking Committee, making it a possible bottleneck.
Still, if everything comes together, the U.S. could have a full crypto framework by the end of September, finally giving the industry the clarity it’s been waiting for.
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