- US lawmakers Patrick McHenry and Maxine Waters are pushing for a stablecoin bill.
- The two lawmakers met Majority Leader Chuck Schumer on Thursday.
- There is a possibility of a bill being on the Congress floor before Election Day.
Lawmakers in the United States are ramping up their efforts to introduce a stablecoin bill in the country, and as per a report, two top lawmakers on the House Financial Services Committee met with Majority Leader Chuck Schumer on Thursday to discuss the same.
As per a Punchbowl News report, House Financial Services Committee Chairman Patrick McHenry along with California representative Maxine Waters met with Schumer, discussing “whether the FAA [Federal Aviation Administration] reauthorization could be a potential vehicle for bipartisan legislation.”
McHenry, who is retiring from Congress this year, is focused on the introduction of a bill that would provide digital asset traders and investors some stability while engaging with more volatile assets.
On the other hand, Senator Cynthia Lummis, one of the lawmakers that have been actively pushing for the regulation of the crypto sector, recently said that Schumer is willing to work on a stablecoin bill, adding that such a bill might be on the floor of Congress sometime this year.
Lummis confirmed talks with Schumer and added, “The administration’s willingness to move forward with stablecoin legislation, I think, makes it by far the most optimal portion of this to move forward.”
As per a report, McHenry believes that the odds of a stablecoin bill passing this year prior to Election Day are increasing, and the digital asset sector might get some clarity in the near future. “I think we have a couple of opportunities ahead before the election to see real policy,” he added.
In September of last year, Circle CEO Jeremy Allaire said that the current version of the US stablecoin bill needs changes and cannot be signed into law. He noted that there are some issues important to the Fed that haven’t been resolved.
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