In the political scene in the United States, a wave of optimism takes over the corridors of power as the November elections approach. Prominent legislators, such as congressman Patrick McHenry and senator Cynthia Lummis, recently expressed, during an event promoted by Coinbase, their positive expectations regarding the approval of impactful legislation in the world of cryptocurrencies later this year.

The change of leadership in the House of Representatives, with Mike Johnson replacing Kevin McCarthy, is seen as a catalyst for this legislative advancement. Johnson, known for his effectiveness in shepherding important legislative agreements, including a critical spending deal that averted a government shutdown, appears to bring new possibilities to crypto regulation in an election year.

Patrick McHenry points to two legislative proposals of particular importance: the Keep Innovation in America Act and the Clarity for Payment Stablecoins Act. While the first aims to reform the cryptocurrency market, the second seeks to regulate stablecoins, an initiative previously supported by the Biden administration through an executive order.

The scenario for a bipartisan agreement appears promising, especially regarding the regulation of stablecoins, an area where both Democrats and Republicans show openness to dialogue. Cynthia Lummis, expressing confidence in cross-party collaboration, sees stablecoin regulation as a viable avenue for legislative action.

The convergence of efforts between McHenry and Lummis, both Republicans, in the search for clear regulations for the crypto industry, reflects a rare opportunity to overcome the partisan divide, with both emphasizing the bipartisan nature of this effort. This joining of forces suggests a growing consensus on the importance of establishing a solid regulatory framework for cryptocurrencies.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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