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- 🚀 Gate $PUMP Futures Trading Challenge is Now Live!
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The U.S. Senate Banking Committee advances cryptocurrency legislation, and the GENIUS Act is expected to pass in 2025.
According to the Gate.io News bot and Cointelegraph, Tim Scott, the Chairman of the U.S. Senate Banking Committee, announced that the Crypto Assets market structure bill is expected to officially take effect by August 2025.
Scott revealed that the Senate Banking Committee has advanced a comprehensive stablecoin regulatory bill—the GENIUS Act—in March 2025. In his speech, he emphasized that to ensure the dominance of digital assets in the global economy, innovation should occur before regulation.