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Senator Tim Scott is confident market structure bill passed by August

Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, recently said that he expects a crypto market bill to be passed into law by August 2025.

The chairman also noted the Senate Banking Committee’s advancement of the GENIUS Act, a comprehensive stablecoin regulatory bill, in March 2025, as evidence that the committee prioritizes crypto policy. In a statement to Fox News, Scott said:

“We must innovate before we regulate — allowing innovation in the digital asset space to happen here at home is critical to American economic dominance across the globe.”

Scott’s timeline for a crypto market structure bill lines up with expectations from Kristin Smith, CEO of the crypto industry advocacy group Blockchain Association, of market structure and stablecoin legislation being passed into law by August.

The Trump administration has emphasized that comprehensive crypto regulations are central to its plans for protecting the value of the US dollar and establishing the country as a global leader in digital assets by attracting investment into US-based crypto firms.

US Government, United States, Stablecoin

Senator Tim Scott highlights the Senate Banking Committee’s goals and accomplishments in 2025. Source: Fox News

Related: Atkins becomes next SEC chair: What’s next for the crypto industry

Support for comprehensive crypto regulations is bipartisan

US lawmakers and officials expect clear crypto policies to be established and signed into law sometime in 2025 with bipartisan support from Congress.

Speaking at the Digital Assets Summit in New York City, on March 18, Democrat Representative Ro Khanna said he expects both the market structure and stablecoin bills to pass this year.

The Democrat lawmaker added that there are about 70-80 other representatives in the party who understand the importance of passing clear digital asset regulations in the United States.

US Government, United States, Stablecoin

Treasury Secretary Scott Bessent, pictured left, President Donald Trump in the center, and crypto czar David Sacks, pictured right, at the White House Crypto Summit. Source: The White House

Khanna emphasized that fellow Democrats support dollar-pegged stablecoins due to the role of dollar tokens in expanding demand for the US dollar worldwide through the internet.

Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, also spoke at the conference and predicted that stablecoin legislation would be passed into law within 60 days.

Hines highlighted that establishing US dominance in the digital asset space is a goal with widespread bipartisan support in Washington DC.

Magazine: How crypto laws are changing across the world in 2025

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Kemi Badenoch accuses Sir Keir Starmer of ‘lying’ about Peter Mandelson prior to sacking him

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Kemi Badenoch accuses Sir Keir Starmer of 'lying' about Peter Mandelson prior to sacking him

Kemi Badenoch has accused Sir Keir Starmer of “lying to the whole country” about what he knew regarding Peter Mandelson’s correspondence with Jeffrey Epstein.

Lord Mandelson was this week stripped of his position as ambassador to the US amid fresh scrutiny over his years-long friendship with the convicted paedophile.

The prime minister initially defended the Labour peer but removed him from his post on Thursday after newly seen emails revealed he sent messages of support to Epstein even as he faced jail for sex offences in 2008.

Politics latest: ‘Unite the Kingdom’ rally takes place with counterprotest nearby

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Lord Mandelson – the unanswered questions

The Times has now reported that Downing Street and the Foreign Office were aware of the emails on Tuesday – a day before Sir Keir gave Lord Mandelson his backing at Prime Minister’s Questions (PMQs).

In a post on X, Conservative leader Ms Badenoch wrote: “Looks like the Prime Minister and Labour MPs spent the week lying to the whole country about what they knew regarding Mandelson’s involvement with convicted paedophile Jeffrey Epstein.”

She continued: “If No 10 had those emails for 48 hours before acting, it means he lied at PMQs and ministers lied again about new additional information. These are yet more errors of judgment.

“The Prime Minister has very serious questions to answer. The only way to clear this up is full transparency about who knew what, and when.”

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Sources said Sir Keir was not aware of the contents of the emails when he told MPs he had “confidence” in Lord Mandelson.

A media enquiry outlining details of the messages between Lord Mandelson and Epstein was sent to the Foreign Office on Tuesday, and passed on to Number 10.

Sir Oliver Robbins, the permanent under-secretary at the Foreign Office, asked Lord Mandelson about the emails on Tuesday, but did not receive a response until the following day.

Sir Keir is understood not to have been aware of the contents of the emails until Wednesday evening.

Speaking to Sky News, one Labour MP has called for more information on what happened behind closed doors at No 10 this week.

Jo White, MP for Bassetlaw, in Nottinghamshire, said: “We cannot move on until we find out how he [Sir Keir] was not briefed properly before PMQs.”

“What he needs to do now is get on top and sort out this mess,” she said. “Suspend the whip from Peter Mandelson and expel him from the party, then have a transparent enquiry about what went wrong at No.10.”

This came as Sir Keir enjoyed some time away from Downing Street.

The prime minister was on Saturday pictured watching Arsenal face Nottingham Forest in a Premier League match at the Emirates Stadium.

Arsenal fan Sir Keir cheered on his side as they won 3-0. Pic: Reuters
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Arsenal fan Sir Keir cheered on his side as they won 3-0. Pic: Reuters

Lord Mandelson’s exit came after less than a fortnight after another high-profile loss for the Labour government, as Angela Rayner was forced to quit as deputy prime minister and deputy Labour leader over her tax affairs.

As Sir Keir has faced a scandal-hit start to the month, a growing number of Labour MPs have begun calling his leadership into question.

Read more from Sky News:
Mandelson’s exit leaves Trump visit in the lurch
What we know about Mandelson-Epstein relationship

Lucy Powell, who is running to replace Ms Rayner as Labour’s deputy leader, has called for a “change of culture” at Downing Street.

“We’ve got a bit of a groupthink happening at the top, that culture of not being receptive to interrogation, not being receptive to differing views,” she told The Guardian newspaper.

Meanwhile, senior Labour MP Emily Thornberry has written to the new foreign secretary, Yvette Cooper, demanding answers about the vetting process for UK diplomats in the wake of Lord Mandelson’s sacking.

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Man admits arson after major fire at MP Sharon Hodgson’s constituency office

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Man admits arson after major fire at MP Sharon Hodgson's constituency office

A man has admitted arson after a major fire at an MP’s constituency office.

Joshua Oliver, 28, pleaded guilty to starting the fire which destroyed the office of Labour MP Sharon Hodgson, at Vermont House in Washington, Tyne and Wear.

The fire also wrecked a small charity for people with very rare genetic diseases and an NHS mental health service for veterans.

The guilty plea was entered at Newcastle Magistrates’ Court on the basis that it was reckless rather than intentional.

Hodgson, who has been an MP since 2005, winning her seat again in 2019. Pic: Reuters
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Hodgson, who has been an MP since 2005, winning her seat again in 2019. Pic: Reuters

The Crown did not accept that basis of plea.

Oliver, of no fixed address, had been living in a tent nearby, the court heard.

Northumbria Police previously said it was “alerted to a fire at a premises on Woodland Terrace in the Washington area” shortly after 12.20am on Thursday.

“Emergency services attended and no one is reported to have been injured in the incident,” it added.

Drone footage from the scene showed extensive damage to the building.

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A spokesperson for the Crown Prosecution Service said: “Our prosecutors have worked to establish that there is sufficient evidence to bring the case to trial and that it is in the public interest to pursue criminal proceedings.

“We have worked closely with Northumbria Police as they carried out their investigation.”

Oliver was remanded in custody and will appear at Newcastle Crown Court on Tuesday, 14 October.

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Kalshi ‘ready to defend’ prediction markets amid Massachusetts lawsuit

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Kalshi ‘ready to defend’ prediction markets amid Massachusetts lawsuit

Kalshi ‘ready to defend’ prediction markets amid Massachusetts lawsuit

In comments to Cointelegraph, Kalshi claimed that Massachusetts is “trying to block Kashi’s innovations by relying on outdated laws.”

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