Chairman of the House Financial Services Committee: The two chambers still need to reach an agreement on certain aspects of the stablecoin bill.

GateUser-6433627c · 2025-06-03T20:55:28+00:00

French Hill, the chairman of the House Financial Services Committee, stated that the House and Senate need to reach an agreement on certain issues before the stablecoin bill can become law. Although the Senate will expedite the approval of its version of the GENIUS Act, the bill was previously delayed due to opposition from the Democrats.

GateUser-6433627c

2025-06-03 20:55:28

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[Chairman of the House Financial Services Committee: The two chambers still need to reach consensus on certain aspects of the stablecoin bill] Chairman of the House Financial Services Committee French Hill stated that before the stablecoin bill becomes law, the House and Senate still need to reach consensus on some issues. The Senate is expected to approve its version of the bill, the “GENIUS Act”, as early as this week. In recent weeks, the stablecoin bill has passed in the Senate Banking Committee and early procedural votes in the Senate with strong support from both parties. However, due to opposition from Democrats, the bill was temporarily delayed as they believe it does not include sufficient measures to prevent illegal activities and that public officials, such as the president, should be prohibited from participating in such businesses.

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