Catenaa, Friday, April 04, 2025-President Donald Trump deepening ties to cryptocurrency are complicating efforts to pass stablecoin legislation as lawmakers push forward on regulatory measures.
House Financial Services Committee Chair French Hill, R-Ark., said Monday that Trump’s engagement in memecoins and plans for a stablecoin have made policymaking more challenging.
The House’s STABLE Act and the Senate’s GENIUS Act seek to regulate stablecoin issuers, including foreign entities like Tether, but differ on implementation timelines.
Lawmakers aim to finalize the bill this summer, with a House vote expected in the spring. Meanwhile, a broader crypto market structure bill is set for discussion on April 9.
Rep. Bryan Steil, R-Wisc., emphasized the importance of passing both measures, calling them “peanut butter and jelly.” Trump is pushing to have both bills on his desk as soon as possible.
