Capitol Hill will be awash with debate over two important crypto-related bills, as both chambers are scheduled to hold hearings on digital assets.
On WednesdayThe Senate Committee on Banking, Housing, and Urban Affairs will be “exploring bipartisan legislative frameworks for digital assets.”
The House Financial Services Committee is a committee that will oversee the financial services of both houses. Hear the testimony Stablecoins, central bank digital currency or CBDCs 5th March.
The bipartisan call to pass crypto legislation You can also increase your chances by increasing the number of people who you are able to contact. Key Republicans who want to meet their campaign promises for 2024 to the digital assets sector have pushed crypto-friendly bills recently on The Hill.
Tim Scott (R) was appointed as the Chairman of Senate Banking Committee earlier this month. promised to pass a market structure bill and regulatory framework for stablecoins—within the first 100 days of President Donald Trump’s crypto-friendly regime.
The Financial Innovation and Technology for the 21st Century Act (FIT21) was It is not a good idea to use House legislators last year. The market structure bill must be approved by the House again, now that a new Congress is in session.
The legality of stablecoins
The GENIUS Act has gained momentum in recent months. You can also find out more about the following: Provide a pathway for issuers of stablecoins such as Tether and Circle to become legal in the U.S.
CBDCs, which are assets tied to the dollar price or another fiat currency like it, are very similar. However, they are managed by central banks or governments in their countries instead of being issued on public networks by private firms.
Trump Stumped On the campaign trail in the last election, I warned against CBDCs warning that they would give the government Lifting control Americans’ financial situation. Rep. Tom Emmer, a crypto-proponent from the R-MN Congressman Tom Emmer has been promoting cryptocurrency for years. Push The Federal Reserve should not be allowed to issue CBDCs without Congressional consent.
Bill Hagerty introduced a The following version is available: The GENIUS Act was introduced in the Senate earlier this month. The bill text is not yet public, but the Senate Banking Committee has received the legislation for review and discussion.
Republicans control the Senate but need some help from Democrats to reach 60 votes for most of their legislation.
Hagerty referred to the growing partisan divide on Capitol Hill during a speech he gave Thursday. You can also watch the video below. Posted on X (formerly Twitter), Democrats are accused of posting. “doing everything they can to stop us from implementing President Trump’s agenda.”
Elizabeth Warren, the leading Democrat in the Senate Banking Committee (D-MA), has also spoken out against Hagerty’s stablecoin legislation. This long-time critic of crypto said the bill lacks “strong consumer protections and guardrails against money laundering,” The following are some examples of how to get started: Punchbowl News.
James Rubin is the editor
