The United States Congress is making important inroads toward passing legislation on stablecoins and crypto market structure, with expectations for completion by August 2025. This move by the U.S. aligns with other global efforts to adopt and integrate infrastructure for this type of asset.
Kristin Smith, CEO of the Blockchain Association, shared this timeline at Blockworks’ Digital Asset Summit in New York. Her projection aligns with remarks from Bo Hines, Executive Director of the President’s Council of Advisers on Digital Assets, who indicated that stablecoin legislation is imminent.
I think we’re close to being able to get those done for August […] they’re doing a lot of work on that behind the scenes right now,” Smith stated during the summit.
Democratic Representative Ro Khanna reinforced this optimism, expressing confidence that both stable assets and crypto market structure bills will pass in 2025.
The Senate Banking Committee recently approved the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins), which outlines collateralization standards for stablecoin issuers and mandates compliance with Anti-Money Laundering regulations.
Additionally, the Financial Innovation and Technology for the 21st Century Act (FIT21)—which provides a framework for digital asset market structure—has passed the House but awaits Senate approval. The U.S. making inroads with regulation comes at a time when stablecoins have processed over $27 trillion in transactions, surpassing both Visa and Mastercard in payment volume.
Strategic Role of Stablecoins in U.S. Financial Policy
Stablecoins currently make up the vast majority of the $230 billion global supply, reinforcing the U.S. dollar’s role in crypto transactions. Treasury Secretary Scott Bessent recently confirmed that these assets are a key pillar of U.S. economic policy, with the Trump administration prioritizing regulatory clarity to ensure the dollar remains the global reserve currency.
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