House of Representatives Financial Services Committee member Jim Himes said the stablecoin bill will take time.
Himes stated that the stablecoin bill “will not happen in this Congress.”
Jim Himes Speaks About Stablecoin Bill
Himes, who sits on the House Financial Services Committee, said the stablecoin bill “will not happen in this Congress.”
Saying that he thinks the bill will not be in early 2023, Himes added:
“If you had said Bitcoin, crypto and DeFi in the halls of Congress four years ago, no one would have understood what you were talking about. This progress made in Congress is quite remarkable.”
The MPs on the Himes committee have been working on a stablecoin bill for quite some time.
The Biden administration has shown much more interest in the stablecoin issue, especially after the collapse of TerraUSD. The digital asset reports published in the last few months are the most important indicator of this.
U.S. Representative Patrick McHenry emphasized that talks on stablecoin continue. According to McHenry, this issue will be resolved in the coming months.
McHenry said he believes they can reach an agreement with their Democratic proxies regarding the stablecoin bill.
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