New Crypto Market Bill Coming by Sept. 30, Senate Banking Chair Says

Key Takeaways

• The U.S. crypto market structure bill could pass as soon as Sept. 30.
• Senate Banking Chair Tim Scott says the goal is to finalize it before fall.
• It joins two major bills in progress: the CLARITY Act and the GENIUS Act.

The U.S. Senate is aiming to pass a long-awaited crypto market structure bill by the end of September, pushing the timeline slightly past President Donald Trump’s August target—but still earlier than Senator Cynthia Lummis’ initial year-end estimate.

Senate Banking Committee Chair Tim Scott confirmed the target date and urged the House to speed up approval of the GENIUS Act.

CLARITY Act Takes Center Stage

Officially known as the Digital Asset Market Structure and Investor Protection Act (aka the CLARITY Act), the bill defines who regulates what in crypto, namely between the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC).

The legislation was first introduced as a discussion draft in early May and formally brought forward later that month.

A joint House subcommittee hearing followed on June 6.

Now, lawmakers say a full Senate version could land before the August recess, with a final vote expected by the end of September.

If passed, the bill would set clear ground rules for exchanges, custodians, and brokers, offering a framework for digital asset firms to register and comply with federal regulations, while ensuring consumer protections around fraud and transparency.

Two Bills, One Goal

While the CLARITY Act  gets most of the attention, the GENIUS Act is also key.

It focuses on stablecoins and has bipartisan support, having already made it through the Senate. President Trump has vowed to sign it quickly.

“I’ve been very clear that I think the president’s mandate of moving the GENIUS Act immediately to his desk is in the best interest of the American people,” said Scott. “I believe that we can do both in a very time-sensitive manner, which is why I’ve committed to a deadline.”

Still, hurdles remain. Senate passage of the CLARITY Act will require support from at least seven Democrats, and aligning the House and Senate versions could present challenges, especially with state and federal regulatory coordination still unresolved.

But with bipartisan momentum and pressure from the White House, crypto’s long-awaited regulatory framework may finally be coming into view.