According to @FoxNews, U.S. Senator Tim Scott has set a new deadline of September 30 for completing the comprehensive crypto market structure legislation, a timeline he communicated to a White House crypto adviser. This new target is later than President Trump's request for an August completion but sooner than a previous year-end estimate from Senator Cynthia Lummis, who has agreed to the new schedule. However, potential delays loom as the House of Representatives has not committed to the Senate's stablecoin bill, the GENIUS Act, and the Senate Agriculture Committee's involvement is still required. For traders, this provides a clearer but still tentative timeline for regulatory clarity. Concurrently, political friction is increasing as Senator Adam Schiff, despite voting for the stablecoin bill, has introduced the COIN Act to prohibit officials like President Trump from issuing or sponsoring digital assets. This move, backed by other Democrats, highlights concerns over potential conflicts of interest and introduces a layer of legislative risk that could complicate the passage of the broader crypto bills.

According to Senator Tim Scott, chairman of the Senate Banking Committee, legislation for U.S. crypto market structure rules will be finalized by September 30, potentially reducing regulatory uncertainty and boosting crypto prices as traders gain clarity, based on his statements at a White House meeting. Senator Cynthia Lummis confirmed this timeline, which could accelerate market stability and influence trading strategies amid ongoing delays in the House.

According to Senator Tim Scott, the U.S. crypto market structure legislation will be completed by September 30, potentially reducing regulatory uncertainty and boosting market confidence. Scott stated this timeline during a press event, aiming for swift House approval of the stablecoin bill to enhance trading stability. However, potential delays from the House of Representatives and Senate Agriculture Committee could cause market volatility, as highlighted by Representative French Hill and Senator Cynthia Lummis.

According to Eleanor Terrett, Senator Tim Scott, Chair of the Senate Banking Committee (@BankingGOP), stated that Democrats who opposed advancing the GENIUS Act could face significant political consequences. He emphasized that the crypto industry’s backlash may intensify pressure on these lawmakers (source: Eleanor Terrett on Twitter, May 9, 2025). For traders, this signals heightened regulatory uncertainty in the US crypto market, potentially increasing short-term volatility for major digital assets and related equities. Monitoring legislative developments around the GENIUS Act is crucial for informed trading decisions in the current environment.

According to Eleanor Terrett on Twitter, Senator Tim Scott compares stablecoins to traveler's checks on the blockchain. This analogy suggests that stablecoins, like traveler's checks, are used as a secure and stable medium of exchange, which could impact their adoption and perception in crypto-trading. Traders might interpret this as a sign of stablecoins being seen as reliable, which could influence their liquidity and usage in trading strategies. [Source: Eleanor Terrett on Twitter]

According to The White House, the recent tweet mentioning prominent figures such as Senator Tim Scott and others does not provide any trading-relevant information or market insights.