Congress News

Lawmakers in the US Senate will reportedly move forward with a vote on the GENIUS stablecoin bill before the Memorial Day holiday.

The House of Representatives and Senate are considering two bills to regulate payment stablecoins with federal and state-level authorities.

The bill aims to set regulatory standards for crypto firms operating in the state and curb "deceptive practices" associated with recent memecoin scams.

“It is clear that the current securities regulatory framework is not a viable option to regulate crypto,” said Rodrigo Seira, special counsel at Cooley LLP.

The US House Financial Services Committee has passed a stablecoin framework bill, the STABLE Act, which will now head to a full House vote.

According to Elizabeth Warren and Maxine Waters, Americans deserve transparency about Donald Trump’s crypto initiatives and how they could potentially influence the SEC.

Representative Maxine Waters suggested that any stablecoin bills in Congress should receive no support unless Republicans address Donald Trump's conflicts of interest.

Senator Tommy Tuberville introduced the Financial Freedom Act in 2022 and 2023. Both times, the legislation failed to get out of committee.

Trump-linked stablecoin USD1 may complicate bipartisan efforts to pass US stablecoin legislation, raising conflict of interest concerns in Congress.

US Senator Elizabeth Warren and four colleagues quizzed leadership at the OCC and Fed about the “unprecedented risks” of President Donald Trump overseeing the WLFI stablecoin.

Paul Atkins did not directly answer senators’ questions on who might purchase his consulting firm if he were confirmed to the SEC.

A group of crypto firms claims the Justice Department is creating “confusion and ambiguity” for crypto with its interpretation of money-transmitting laws.

Peirce, head of the US Securities and Exchange Commission's crypto ask force, shared her expectations for digital asset regulation in a Trump administration at the DC Blockchain Summit.

The former commissioner will face a Republican-controlled Senate Banking Committee hearing on March 27 where he is likely to face questions regarding crypto regulation.

The two Republican candidates, Randy Fine and Jimmy Patronis have been outspoken supporters of crypto innovation.