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.