The post US Rep French Hill Provides Timeline For Stablecoin Legislation appeared on BitcoinEthereumNews.com.

US Congressman French Hill, who serves as the Chairman of the House’s Subcommittee on Digital Assets, has provided a timeline for when the Stablecoin bill could be passed, suggesting that this could happen as early as year-end. Interestingly, the congressman also offered insights into the process for firing the US Securities and Exchange Commission (SEC) Chair Gary Gensler. French Hill Raises Possibility Of Stablecoin Legislation Passing By Year-End During an interview on the Thinking Crypto Podcast, the US Congressman suggested that the US House could pass the Stablecoin legislation by year-end. He added that if they don’t pass it this year, the stablecoin bill will be a top priority for his committee in the new year. As to how soon it could happen in the new year, he explained that the second quarter was a realistic target since they will have to reintroduce the bill in the House and Senate because of the new US congress members following the November elections. Therefore, French Hill noted that the bill’s reading would likely take place in the first quarter of the year, and then it could be passed in the second quarter. The US Congressman also revealed that they have laid the groundwork for the bill’s passage, having been in talks with several Senators. There is optimism that the Stablecoin bill will become legislation by next year even if Congress doesn’t pass it this year. As CoinGape reported, the next US Congress could be the most pro-crypto ever, which could make the bill and other crypto regulations easily scale through. Moreover, Donald Trump, who has declared his support for the crypto industry, is currently leading in the US presidential polls. This means the next US administration could take a more friendly approach to crypto. French Hill’s insights come amid Tether CEO Paolo Ardoino’s…

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Filed under: News - @ October 24, 2024 1:22 am