Lawmakers Pushing Ahead on Stablecoin, Crypto Market Structure Bills

Several U.S. legislators revealed Wednesday their plans to advance stablecoin and crypto market structure legislation through Congress over the next few days—steps toward fulfilling the Trump administration’s promises to the crypto industry.

Speaking on a panel at the Digital Chamber’s Blockchain Summit 2025 Conference in Washington D.C., U.S. Rep French Hill (R-AR) said that in the “next few days,” lawmakers will publish in a revision to FIT 21, a legislative plan that provides regulatory guardrails for the U.S. cryptocurrency industry.

“Business needs certainty and predictability,” said Sen. Tim Scott (R-SC), who spoke alongside Hill on the panel. “You want that embedded in the laws of our country.”

Meanwhile, House Financial Services Crypto Subcommittee Leader Rep. Bryan Steil (R-WI) teased that a House stablecoin bill would be unveiled before the end of the day. The draft went live on a government website on Wednesday afternoon. 

For months, President Donald Trump has vowed to refashion the U.S. into the “crypto capital of the world” by supporting the development of a more favorable regulatory climate for the digital assets industry. His crypto czar David Sacks doubled down on those promises early last month, pledging to pass both stablecoin and markets structure bills within the first 100 days of President Trump’s second term. 

While it’s clear that Sacks’ deadline was far too ambitious, policymakers are making moves to signal to the crypto industry that passing comprehensive crypto legislation is top of mind for Congress. 

On a panel with three other congresspeople, U.S. Sen. Bernie Moreno (R-OH) attempted to pump up a crowd of onlookers with a call to pass a comprehensive digital assets markets structure bill by Congress’ summer recess, beginning in early August. 

“Market structure, Genius Act, SBR done by August, right,” Moreno said. “What do you guys think?”

Gillibrand chimed in to temper the crowd’s expectations. 

“We cannot get market structure done [by then], but you’re definitely gonna get [a] stablecoin [bill],” she said.

Edited by James Rubin