Senator Tim Scott (R-SC) says U.S. lawmakers are looking to have crypto market structure legislation completed by September of this year.
Tim Scott Sets September 30 Crypto Market Structure Deadline
Appearing in a fireside chat on Capitol Hill alongside fellow Senator Cynthia Lummis (R-WY) and the head of the President’s Council of Advisers on Digital Assets of the White House, Bo Hines, Scott said he is eyeing a September 30 deadline to finalize the long-awaited legislation.
“I think that is a realistic expectation,” the Chairman of the U.S. Senate Banking, Housing, and Urban Affairs Committee said.
“As stated today, we are committed to getting market structure done by the end of September,” Hines said in a June 26 X post. “Period.”
Key Crypto Players Celebrate
Following the news, several key crypto heavyweights shared their enthusiasm over the digital assets development.
“A clear path forward,” Coinbase CEO Brian Armstrong said. “Thank you, David Sacks for delivering the White House’s commitment to work with Senator Tim Scott and Senator Cynthia Lummis to deliver market structure legislation by September 30.”
“Getting comprehensive crypto market structure legislation passed has been sorely needed for years,” said Colin McCune, Head of Government Affairs at a16z. “We’re incredibly supportive of this effort to make it happen by September 30.”
“American consumers and crypto builders need clear, effective rules, and we stand ready to help get this done,” he added.
Scott’s updated legislative timeframe comes amid a groundswell of congressional crypto activity under a new crypto-friendly White House.
Earlier this month, the Senate passed the GENIUS Act, marking a win for the landmark stablecoin legislation.
In an appearance on CNBC this week, Lummis warned that Congress must pass both crypto market structure legislation and the GENIUS Act by the end of 2025.
“I’m not saying combine them, but they both need to pass this year,” Lummis said.
With a September 30 deadline now in the works for the crypto market structure bill, it looks as though 2026 may start with new crypto guidelines.
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