According to FoxNews, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the crypto market structure legislation, a timeline he described as a "realistic expectation." This development comes as President Donald Trump urges the House of Representatives to immediately pass the Senate's stablecoin bill, the GENIUS Act, without any amendments. However, Representative French Hill, Chairman of the House Financial Services Committee, indicated that there are "subtle, some material" differences between the Senate's GENIUS Act and the House's STABLE Act that need to be resolved. These differences pertain to issues like extraterritoriality and the roles of state and federal regulators. This divergence between the House and Senate, coupled with the fact that the Senate Agriculture Committee must also approve the market structure bill, introduces significant uncertainty for traders and could delay the establishment of a clear regulatory framework for the U.S. crypto market.

According to @WhiteHouse, U.S. Senator Tim Scott announced that legislation for the U.S. crypto markets will be completed by September 30, a new deadline that is later than President Trump's request but earlier than other lawmaker predictions. The source indicates President Trump is pushing the House to quickly pass the Senate-approved stablecoin bill, the GENIUS Act, without amendments. However, Representative French Hill noted that 'subtle' and 'material' differences exist between the House and Senate versions, suggesting negotiations are needed on issues like extraterritorial enforcement and the roles of state versus federal regulators. This legislative uncertainty and conflicting timelines between the Senate and House could create market volatility, particularly for stablecoins, as traders await a clear regulatory framework.

According to the White House, President Trump has urged the House of Representatives to pass the Senate's stablecoin bill, the GENIUS Act, 'lightning fast' and without any changes. However, key lawmaker Representative French Hill has indicated that further talks are necessary, citing 'subtle' and 'material' differences between the Senate's bill and the House's version that need to be resolved. These differences reportedly cover extraterritoriality, the roles of state and federal regulators, and the separation of banking and commerce. Meanwhile, Senator Tim Scott has set a new, later deadline of September 30 for finalizing the broader crypto market structure legislation, a timeline Senator Cynthia Lummis has agreed to. This ongoing legislative push for regulatory clarity in the U.S. is a critical development for the crypto market, potentially impacting stablecoin issuers and the operational framework for assets like Ethereum (ETH), which was trading around $2,499.74 against USDT with a 2.9% increase in the last 24 hours according to the provided data.

According to Eleanor Terrett, Congressman French Hill is bringing Binance executive Tigran Gambaryan as his guest to the State of the Union. This event could signal a strengthening of ties between U.S. lawmakers and cryptocurrency executives, possibly affecting Binance's regulatory standing in the U.S. market.