US Crypto Bill Faces Delay as Senate and House Diverge on Regulatory Framework

U.S. lawmakers are advancing efforts to establish a regulatory framework for the crypto industry, but a growing divide between the Senate and House threatens to derail progress. Senate Banking Committee Chair Tim Scott announced a revised target date of September 30 for completing crypto market structure legislation, expressing confidence despite political and procedural challenges.

While the Senate moves forward with a coordinated approach, the House of Representatives remains uncommitted, suggesting that final regulations may not materialize until well after the fall. The Senate's plan, backed by digital asset advocate Senator Cynthia Lummis and former President Trump’s crypto advisor Bo Hines, aims to finalize the framework by late September—a more realistic timeline than the previously proposed August deadline.

Notably, even Senator Sherrod Brown, a longtime crypto skeptic, has endorsed key components of the Senate’s proposal. This rare bipartisan consensus recently led to the passage of the GENIUS Act, which seeks to clarify stablecoin issuance, impose Federal Reserve reserve requirements, and restrict tech giants like Amazon from entering the space.