The date for the long-awaited Cryptocurrency Law in the US has started to become clear!

Tim Scott, the Chairman of the U.S. Senate Banking Committee, announced today that the bill containing comprehensive regulations for crypto markets in the U.S. will be completed by September 30.

This date means that it will be completed later than the August target set by President Donald Trump but earlier than the year-end estimate by Senator Cynthia Lummis, who is working on the legislation.

Scott stated to Bo Hines, the White House's cryptocurrency advisor, that this new timeline is realistic, and he emphasized that the GENIUS Act, a stablecoin law that passed in the Senate last week, should also be quickly approved by the House of Representatives.

Scott said, "It is a realistic expectation that the regulations regarding market structure will be completed before the end of September. We are making progress on this path."

However, there is no such clarity on the part of the House of Representatives. The House had previously made progress on the Digital Asset Market Clarity Act, which is the legislation regarding market structure, but it has not yet taken a position on the GENIUS Act, which regulates stablecoins. French Hill, the Chairman of the House Financial Services Committee, stated this week that there are still some differences that need to be resolved between the Senate's bill and the legislation prepared by the House. This indicates that a short-term compromise may be difficult.

As a reminder, Senator Lummis had stated in a speech just a day earlier that she anticipated all crypto regulations would be completed by the end of the year. President Trump had wanted this process to be completed by Congress's August recess.

*It is not investment advice.

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