French Hill, chairman of the Digital Assets Subcommittee, said Stablecoin and market structure laws are “closely interconnected.”
Both of these invoices are required to provide ample protection for the cryptocurrency market.
As reported by U.Today, the US Senate has overwhelmingly approved a bipartisan bill, a genius law aimed at regulating standard practices at the federal level.
Ripple CEO Brad Garlinghouse described it as the most important financial law since the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was introduced all the time in 2010.
Stocks of crypto companies like Circle have experienced double-digit gatherings in response to the passage of the bill.
It is worth noting that the House has its own Stablecoin Bill (Stable Act). There is also a debate on integrating Stablecoin laws with the Market Structure Bill.
Pro-cryptic Republicans are aiming to pass both of these bills before the August break, but it is still unclear whether they will be able to ensure adequate support.
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