Matt Hougan emphasized that if the GENIUS bill fails, it could hinder the crypto market’s progress. Nine Democratic senators have withdrawn support, focusing on concerns over AML protections and security risks, which may disrupt efforts to create a stable regulatory environment for cryptocurrencies.
Hougan believes that passing a crypto bill is crucial in solidifying political consensus around crypto and ensuring future administrations do not undo existing regulatory advancements. He highlights that stablecoin regulation is a vital initial step for securing the market’s future.
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