U. S. lawmakers are poised to enact legislation that will establish rules for stablecoins and the overall structure of the cryptocurrency market as early as August, according to Kristin Smith, CEO of the Blockchain Association, who spoke at Blockworks’ 2025 Digital Asset Summit in New York. Smith's predictions align with earlier comments by Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, who stated on March 18 that he anticipates comprehensive stablecoin legislation in the near future. “I believe we’re nearing completion on those by August. . . a lot of work is currently being done behind the scenes, ” Smith remarked on March 19 during the Summit, where Cointelegraph was present. “I’m optimistic when you have the chairs of the relevant committees in both the House and Senate, along with the White House, eager to take action, and there’s bipartisan support in Congress to achieve it, ” she continued. Bipartisan Backing At the Digital Assets Summit on March 18, Democratic Congressman Ro Khanna expressed confidence that Congress “should be able to pass” both the stablecoin and cryptocurrency market structure bills in 2025. Khanna noted that around 70 to 80 Democrats view stablecoin legislation as vital for enhancing U. S. global influence by broadening access to dollars. “For the first time, these are tangible initiatives we can make progress on, but achieving this requires at least 7 Democratic votes in the Senate, ” Smith clarified, mentioning that “we already have 5 votes secured at the committee level. ” Recently, the Senate Banking Committee greenlit the GENIUS Act, an acronym for Guiding and Establishing National Innovation for U. S.

Stablecoins. This proposed legislation outlines collateralization requirements for stablecoin issuers and mandates adherence to Anti-Money Laundering (AML) regulations. In 2024, the House of Representatives passed the Financial Innovation and Technology for the 21st Century Act, known as FIT21, which lays foundational rules for crypto market structure. The bill must still receive Senate approval to become law. Crypto executives believe that clear regulations from the U. S. will provide greater advantages to the industry than even having a strategic Bitcoin reserve. On March 6, U. S. President Donald Trump signed an executive order establishing a U. S. Strategic Bitcoin Reserve and Digital Asset Stockpile, fulfilling a promise made during his 2024 campaign. “Markets are looking for a clear roadmap for innovation and well-defined guidelines on stablecoins, institutional adoption, and taxation, ” Max Giammario, CEO of Kindred, a Web3 artificial intelligence startup, stated to Cointelegraph in March.