Stablecoin bill is a ‘no-brainer’ — Consensys director on US legislation
U.S. lawmakers are yet to finalize legislation that will regulate aspects of the digital asset space, including stablecoins, amid ongoing election campaigns for 2024. Bill Hughes, senior counsel and director of global regulatory matters at Consensys, stated stablecoin legislation should be straightforward once state-level regulatory issues have been addressed. Hughes deemed Senator Elizabeth Warren's bill to control illicit uses of digital assets 'problematic,' however, he found the Clarity for Payment Stablecoins Act introduced by Financial Services Committee chair Patrick McHenry as considerably reasonable. Hughes stated that the crypto space could become a significant theme in the 2024 elections, with candidates including Republican Vivek Ramaswamy and Independent Robert F. Kennedy, Jr. declaring their support for crypto-related policies.
