Call for Stablecoin Legislation
Brian Armstrong, the Chief Executive Officer of Coinbase, has urged lawmakers to pass crucial legislation regarding stablecoins. According to Armstrong, a pivotal vote on the stablecoin bill is scheduled for tomorrow.
Brendan Pedersen, a reporter from Punchbowl News, noted a significant shift in sentiment surrounding this much-discussed bill. The final version of the bill is expected to be shared with Senate officials later today.
Political Discussions
Senate Minority Leader Chuck Schumer met with Democratic lawmakers earlier today to discuss this high-stakes bill. However, a pressing question remains: how will the bill be voted on? Senate Republicans advocate for a vote this week, but this timeline may not align with the preferences of the Democrats.
“We’ve been meeting with members of the Senate and both sides of the House, and there’s a lot of enthusiasm about getting this done,” Armstrong stated.
He also mentioned that numerous details are still being negotiated at the last minute. If the Senate successfully passes the stablecoin bill, U.S. lawmakers will then consider legislation on crypto market structure, which Armstrong believes is even more crucial than the stablecoin bill.
