“That, I think, set us back a little bit,” echoed Sen. Cynthia Lummis (R-Wyo.) at the same event. Lummis, who has been pressing her own wide-ranging crypto legislation in the Senate, also suggested that the stablecoin bill, specifically, will make more progress next year. “That is an area that could come early in 2024.”Rep. Jim Himes (D-Conn.), who has also occupied a leading role in the House negotiations for both bills as the committee’s top Democrat Rep. Maxine Waters (D-Calif.) withdrew support, suggested the industry needs to counter what House Democrats are hearing from outside groups and U.S. Securities and Exchange Commission Chair Gary Gensler – a dedicated critic of the industry.

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Author: Jesse Hamilton

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