Scheduled for June 30 at 9 a.m., the U.S. Senate’s vote on the GIG Act is expected to significantly impact stablecoin regulations and financial market dynamics. Senator Bill Hagerty supports the bill, arguing for maintaining competitiveness, while Senator Elizabeth Warren raises concerns about systemic risks.
If passed, immediate changes to the regulatory oversight of stablecoin issuers could affect market liquidity and stability. Recent data indicate USDC is at 1.00 USD with a market cap of 61.68 billion USD. Historical regulation votes often lead to volatility, echoing past responses in the crypto markets.
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