Senators Push for Comprehensive Crypto Market Structure Legislation with Extended Deadline

The U.S. Senate Banking Committee is advancing critical legislation aimed at establishing a clear regulatory framework for the digital asset market, including stablecoins. Key senators such as Tim Scott (R-S.C.) and Cynthia Lummis (R-Wyo.) have been at the forefront of drafting this bipartisan legislation. Initially targeting an August deadline, the committee has pushed back the finalization date to September 30, 2025, allowing more comprehensive review and collaboration between the Senate and the House.

Senators Scott and Lummis, alongside Senators Thom Tillis and Bill Hagerty, have outlined core legislative principles designed to create a safer, more transparent, and well-structured market for cryptocurrencies. This effort comes at a time when the crypto industry is rapidly evolving and requires clear guidelines to protect investors and foster innovation.

The White House has shown support for the GENIUS Act and intends to back clear market structure regulations, signaling a bipartisan commitment toward thoughtful crypto policy. Tim Scott emphasized the importance of meeting the new deadline and working closely with both chambers of Congress to achieve meaningful outcomes.

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