Lawmakers have similarly ramped up their efforts to enshrine operational guardrails for the cryptocurrency industry into law, vowing to advance broader market-structure legislation later this year, in addition to making progress on a stablecoin bill that is expected to pass as soon as this summer.
The regulatory and legislative overhaul, which is still underway, has refashioned the U.S. into a major crypto hub, marking an about-face from the country's previously crypto-skeptical policies under President Joe Biden.