EddieJayonCrypto
2 Feb 24
Senator Cynthia Lummis is currently in negotiations regarding U.S. stablecoin legislation, with talks ongoing between Democrats, Republicans, the U.S. Senate, and the House of Representatives. She is optimistic about the odds of success for this legislation and believes that it may pass in the first...
Senator Cynthia Lummis is currently in negotiations regarding U.S. stablecoin legislation, with talks ongoing between Democrats, Republicans, the U.S. Senate, and the House of Representatives. She is optimistic about the odds of success for this legislation and believes that it may pass in the first half of the calendar year. Stablecoin legislation is crucial for the crypto market, with a market cap of about $136 billion, and recent developments in the industry are supporting the need for legislation. This Congress has made significant progress in crypto legislation, particularly with Republican-led House committees advancing bills on market structure and stablecoins to the House floor, showing that legislation on stablecoins may have the best odds of success this year. The U.S. Securities and Exchange Commission's approval of spot bitcoin exchange traded funds (ETFs) has also been a major step toward making the public more comfortable with investing in the crypto market, showing that the adoption is going well and the industry is ready for prime time.
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