Skip to content
- Trump’s August deadline adds urgency to stablecoin and crypto market legislation in Congress.
- Rep. Bryan Steil pushes for aligned House and Senate bills to streamline crypto regulation efforts.
- Lawmakers aim to finalize rules for stablecoins and crypto markets before the congressional recess.
U.S. Representative Bryan Steil urges Congress to advance stablecoin regulation and broader crypto market structure legislation together. As chairman of the House Financial Services Subcommittee on digital assets, fintech, and AI, Steil advocates for legislation progress without separating crypto and stablecoins since he views their connection as essential.
Stablecoins and broader crypto markets should not be addressed separately because this approach would slow regulatory development and create gaps. Development at the same time of stablecoins alongside digital asset ecosystem components will yield advantages for both technology sectors.
Isolation of stablecoin legislation increased when President Donald Trump asked lawmakers to finalize their bill before the August break began. The crypto community has already started predicting major regulatory changes after President Donald Trump made the request.
The Senate has aligned its strategy with Steil as he presented his approach through a recent podcast interview. According to him, the Senate demonstrates strong energy about its stablecoin legislation, so he plans to match their progress speed.
The Genius Act has gained substantial backing from Senator Bill Hagerty in the Senate chamber. The Stable Act has Representative French Hill endorsing it while Steil is its House sponsor. The Stable Act will receive an updated version during the coming months as its authors work to harmonize its contents with the provisions in the Genius Act.
Coordination Across Chambers Seen as Key to Faster Progress
According to Steil, this parallel advancement of both measures would minimize delays in the reconciliation process. The reduction of differences between versions pursued by the Senate and House aims to generate a final bill that can successfully proceed through both legislative bodies without extensive discussions.
Steil maintained that lawmakers need to proceed diligently despite the August deadline being the leading factor. The main objective is to create explicit guidelines that serve as effective standards for the digital asset sector and act speedily.
Both political authorities and industry personnel are intensifying their push for Congress to speed up the development of crypto regulatory measures. The strategy outlined by Steil will dictate both the speed and effectiveness of the U.S. when establishing digital asset oversight regulations.
Also Read: Ripple Case Nears Conclusion as SEC Sources Indicate Key Developments
