McHenry’s “ugly baby” of a stablecoin bill is making some steps forward…albeit at a snail’s pace.
In July, despite an ongoing duel over specifics and alleged delays from the Fed, the US congressional committee advanced the bill, setting it up for its next steps : the house floor and the presidential signature.
But the bill can’t come soon enough.
Globally, steps are being made to upgrade financial systems with stablecoins as the driver. Digital currencies and tokenization are increasingly praised for their “frictionless” potential.
A major thing that is missing for the US to participate? Regulatory protection.