The Agenda of Stablecoins in the US is on the Table Again: Deadline for the Law is Clearing!

The US may approve the stablecoin law it has been working on for years before the end of this year.

US Senators Patrick McHenry and Cynthia Lummis spoke about the stablecoin law. Senators, who stated that it is possible for Congress to approve a stablecoin bill this year, avoided giving a clear date.

However, the senators pointed out that the presidential elections in November posed a major obstacle to the stablecoin law and implied that approval might be delayed until after the elections.

The shaping of the bill is marked by great contention between Democrats and Republicans. Nevertheless, the bill, which received initial approval, only needs one more approval to go into effect and requires the affirmation of the US president.

While Senators Patrick McHenry and Cynthia Lummis believe that the stablecoin bill will be approved this year, not everyone shares the same opinion. Vice President of Policy at the US Chamber of Digital Commerce, Cody Carbone, noted that this bill has many dynamics and the process may be more challenging than expected.