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US lawmakers are hopeful about approving crypto regulations before the upcoming November elections

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US lawmakers are hopeful about approving crypto regulations before the upcoming November elections

Legislators in the United States are hopeful that they may enact major crypto legislation before the November elections, and this includes Senator Cynthia Lummis and Congressman Patrick McHenry.

McHenry thinks that the change in leadership from Kevin McCarthy to Mike Johnson as House Speaker has accelerated legislative progress, creating unique chances to adopt legislation pertaining to crypto in a year when elections are taking place.

He has high hopes for two legislation that would regulate stablecoins and improve the crypto market: the Keep Innovation in America Act and the Clarity for Payment Stablecoins Act.

In line with the Biden administration’s readiness to tackle this problem, Lummis views stablecoin regulation as the most practical area for legislative action.

Underlining the issue’s nonpartisan character, both McHenry and Lummis think their work in crypto regulation might overcome the party gap.

There seems to be a growing consensus between them that the bitcoin business needs clear laws, as their combined position indicates.

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