The helmsmen of the stablecoin legislation in the House have said that it's important for the bill to be written in concert with the next one on the agenda — the law that will more broadly define how U.S. cryptocurrency markets should operate.
During yesterday's hearings, Hill told Democrats that some of their concerns about stablecoins were better dealt with in that so-called market structure legislation.
Hill's spokesperson confirmed to Axios that they see the two areas of legislation as a high priority, citing quotes from Hill and Steil in Punchbowl about how the two pieces of legislation go well together.
The intrigue: Coinbase is reportedly pushing for the two bills to be passed at the same time, which has many in the industry concerned about lost momentum.
Our thought bubble: It doesn't pay to overthink these statements because "at the same time" could be a fuzzy concept, but it does seem to make the process more complicated.
Stablecoins seem feasible to just finish soon with the discipline the GOP has been showing. Market structure is going to be complicated.
