Talks among lawmakers have been in a holding pattern for months as election season nears, making passing bills in Washington close to impossible, sources on Capitol Hill told the Block.
He added that the chances of landing a stablecoin bill increase after the government has been funded. Waters did not respond to a request for comment. "There's a lot of dynamics at play," Carbone said. "If we get a bipartisan House bill, they come to some great agreement and grand bargain, and it passes the House with 400 votes, it would be very hard for the Senate to ignore that." Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., plan to announce a stablecoin bill they have been working on for months that aims to provide clarity around stablecoins and protect consumers.
"That notion couldn’t be further from the truth," the spokesperson said. "Providing regulatory clarity around stablecoins that enables continued innovation right here in the United States is a top priority for both Senators Lummis and Gillibrand, and our staff continue to meet every day to negotiate legislation that achieves that goal."
Elsewhere, the Senate Banking Committee has been focusing on other issues, such as housing and crypto itself is not seen as one of Chair Sherrod Brown's, D-Ohio, priorities. For the past few months, there have been reports of a potential package of bills that could lead to some compromise and eventual action, said Ron Hammond, director of government relations at the Blockchain Association.
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