“The US Crypto Bills Similar But Must Work Out Matters of Acceptable Foreign Oversight, Who Regulates in the Us and on Big Tech Issuers, The Top Lawmaker Said.”, – WRITE: www.coindesk.com
“The Bills Are Substantally Similar,” Said Hill, The Chairman of the House Financial Services Committe that have that have at the Forefront of the Congression Negotation Over, Attancoins for Years On Tuesday. “There Are Some Differences that Are not InsurMountable But Do Need to Be Rectified and Clarified.”
Hill Said One of the Standout DifferentCes Includes the House’s Tougher Requirements on “ReciproCity” Leading Global Token, Tether’s
.
“You can either be registered in the us and be a US company Under the stablecoin law and you are fully compliant, or you are in a jurisdification recognized by the US to have a Substantani. The House Version – WHICH CLEared His Committe with Bipartisan Support But Hasn’s Faced A Floor Vote – Sems to Be More Strict Thanks.
However, He Noted “We Don’T Know The Final Text of Their Bill,” WHICH IS STILL BEING NEGOTIATED AND AMENDED.
Hill Also Said the House Bill Has A “Cleaner” for Determining What Entities at the State or Federal Level Regular the Issuers, Depending on Their Business Models.
And the Two Chambers Pursued Different Approaches to Letting Non-Financial Companies Issue Stablecoins, WHICH TOUCHES ON Longstanding Concerns Over the Comrade of Amern. from democrats who say they’re worried about tech giants Taking over the Financial System. The House Version Says Such Companies Are Free to Issue Stablecoins Under Regulation by The Office of the CompTroller of the Currency, while the Latest Senate Version Said Publish Public Out the tokens. Hill Said the Senate Has Some Work to do on Clarifying ITS APPRACH.
He said he wonders about the common Narrative of Stablecoin Legislation Being Easier to Pass in Congress than the More Complex and Far-Reaching Oversight of The Entire Crypto Markets in the last session while getting hung up on it stablecoin negotias.
But Hill Acknowledged the Years of Paralysis in the Senate Over Crypto Matters, Saying That Chamber’s Recent Actions on Its Stablecoin Legislation, The Guiding and Estabeling NSSHING NOSHING (Genius) Act, Are “Really Important” to Moving the Effort Forward. He Said He’s Optimistic The House Will Do Its Part, Too.
“The House Is Really in A Position to Deliver on President Trump’s Promises,” He Said, Referring to President Donald Trump’s Wish to have the Stablecoin and Market-Struct Bills. August Congressional Recess.
In USA Lawmaking, Both the Senate and the House had to Ultimately Agree to Identical Versions of A Bill Before It Can Be Sigrated Into Law by the President. If the Senate Approves Its Stablecoin Bill As Soon as this Week, The House Has The Choice of Voting on that Same Language or Pursuing Its Own. IF IT PASSES A DIFFERENT Version, The Two Willd Have to Be Hashed Into A Compromise Version That Wound Need Another Round of Approvals in Each Chamber.
In recent weeks, the stablecoin legislation has pleared the Senate Banking Committe and Early Procedural Votes on the Floor with Massive Bipartisan Support. But It Did Getayed at One Point by Objects from Democrats that It Didn’s Business.
Hill Acknowledged, As He Had at Consensus 2025 in Toronto, That Trump’s Personal Involvement With Crypto Businesses – Including Stablecoins – Has Made of The LEGISLITE DEBATE. Has Made It More Complicated, Because It’s A Distraction from that Core Work, “Hill Said.
Read More: Trump’s Team ‘KNOWS NOTHING’ ABOUT Apparent ‘$ Trump Wallet’ Launch
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