US Senate Sets September 30 Deadline for Crypto Market Bill

U.S. Senator Tim Scott, chairman of the Senate Banking Committee, has set a firm deadline of September 30, 2025, to finalize comprehensive crypto market structure legislation, accelerating the timeline from previous expectations and providing renewed hope for regulatory clarity. This timeline, supported by Senator Cynthia Lummis and White House crypto advisers, aims to establish clear rules for the digital asset market, which many see as critical to unlocking significant institutional investment. However, a key crypto tax relief amendment, proposed by Lummis to simplify taxation on smaller transactions, was excluded from a recent government spending bill, delaying tax reforms and maintaining the current complex reporting requirements. Market reactions have been mixed, with Bitcoin rising toward its all-time highs amid bullish momentum, while short-term volatility and selloffs occurred as traders respond to ongoing political negotiation risks and macroeconomic pressures. Despite President Donald Trump's push for an earlier resolution before the August congressional recess, legislative hurdles remain, including the need for consensus between the Senate and House and coordination among multiple Senate committees, which could extend the timeline beyond September. Meanwhile, new crypto projects like Mutuum Finance are gaining investor attention during this period of regulatory anticipation, reflecting both market optimism and caution.