Congress is Finally Getting Its Act Together on Stablecoins! 🎉💰

So, guess what? The United States lawmakers are actually on track to pass some rules for stablecoins and cryptocurrency market structure by August! 🎊 Kristin Smith, the CEO of the Blockchain Association (yes, that’s a real job), spilled the beans during Blockworks’ 2025 Digital Asset Summit in New York. Who knew politics could be this exciting? 😏

And just to keep the gossip train rolling, Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, chimed in too. He thinks we’ll see some comprehensive stablecoin legislation soon. I mean, who doesn’t love a good legislative drama? 📜

“I think we’re close to being able to get those done for August […] they’re doing a lot of work on that behind the scenes right now,” Smith said, probably while sipping a latte and scrolling through Twitter. ☕️

“I’m optimistic when you have the chairs of the relevant committees in the House and the Senate and the White House that want to do something and you’ve got bipartisan votes in Congress to get it there,” she added. Because nothing says “let’s get things done” like a bunch of politicians agreeing on something, right? 🙄

Bipartisan support (yes, you read that right)

At the Digital Assets Summit, Democratic Congressman Ro Khanna confidently declared that Congress “should be able to get” both the stablecoin and crypto market structure bills passed in 2025. I mean, if he believes it, who are we to doubt? 🤷‍♀️

According to Khanna, around 70 to 80 Democrats think stablecoin legislation is crucial for promoting US influence. Because nothing screams “global power” like digital coins, right? 🌍💸

“For the first time those are actually like something we’re able to get done, but to do that you need to have at least 7 Democratic votes in the Senate,” Smith said, adding that “we already have 5 votes at the committee level.” So close, yet so far! 😅

Last week, the Senate Banking Committee approved the GENIUS Act (yes, it’s an acronym, and no, it’s not a joke). This bill sets collateralization guidelines for stablecoin issuers and mandates compliance with Anti-Money Laundering (AML) laws. Because who doesn’t love a good acronym? 🤓

In 2024, the House passed the Financial Innovation and Technology for the 21st Century Act, also known as FIT21. It’s like a gym membership for crypto market structure—everyone’s trying to get fit! 💪

But wait, the bill still needs to pass in the Senate to become law. So, fingers crossed! 🤞

Crypto executives are saying that the industry will benefit more from US regulatory clarity than even the strategic Bitcoin reserve. Because clarity is the new black, darling! 🖤

On March 6, US President Donald Trump signed an executive order creating a US Strategic Bitcoin Reserve and Digital Asset Stockpile. Because why not? It’s 2024, and we’re all about those digital assets! 💼

“Markets expect a roadmap for innovation and clear guidelines on stablecoins, institutional adoption, and taxation,” Max Giammario, CEO of Web3 artificial intelligence startup Kindred, told CryptoMoon in March. Because who doesn’t love a good roadmap? It’s like Google Maps for the crypto world! 🗺️

2025-03-19 22:05

Bipartisan support (yes, you read that right)

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