Combo

when

USDC

According to a recent report from <a href="https://news.bloomberglaw.com/cannabis/key-house-republican-would-back-stablecoin-marijuana-combo-bill" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">BloomBerg</a>, the top Republican lawmaker is open to combining stablecoin regulations with rules for marijuana banking – if the two parties can reach a consensus.&nbsp;
Rep. French Hill, who chairs the House subcommittee overseeing digital assets, signalled he’d vote for a legislative package marrying the two seemingly unrelated issues.&nbsp;
“I would vote for it if it were coupled,” Hill stated bluntly in an interview on Bloomberg TV. “I have supported the SAFE Banking Act for nine years…which would allow cannabis dealers in states where it’s legal to have access to the banking system.”
The Arkansas Republican argues it’s “easier to catch bad actors” when marijuana businesses can use banks. He says Congress is nearing a bipartisan deal on stablecoin oversight as well.
His Democratic counterpart, Rep. Maxine Waters, agrees progress has been made towards passing stablecoin legislation. There’s even been talk of attaching it to an upcoming aviation bill to get it through Congress.
The issue took an interesting turn this week when court documents showed the Justice Department does not view the USDC stablecoin as a security – potentially undermining the SEC’s courtroom battles with crypto firms like Binance over that very question.
With stablecoins facing existential threats and cannabis companies shut out of banks, piggybacking sensitive bills could be the compromise that unlocks progress on both fronts.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/04/27/stakingfarm-unveils-26-annual-crypto-staking-returns/" data-wpel-link="internal" rel="noopener noreferrer nofollow">StakingFarm Unveils 26% Annual Crypto Staking Returns</a>
</blockquote>

Lawmakers Eye Combo Bill for Stablecoins, Marijuana Banking

The Crypto Times

Autres articles publiés le 27 avr. 2024

Leading Expert Predicts a 1000% Surge in BlastUP: What Are the Actual Chances?

XRP – SEC case update: Is there good news for Ripple after FBI’s crypto advice?

Top Crypto Gainers Today Apr 27 – Golem, Aelf, Ethereum Name Service, Ethereum Classic

Upcoming Crypto Token Unlock Events

Altcoins Face Headwinds Amid Bitcoin’s Stability Concerns

Insider Insights: The Catalyst for a +2000% Surge in Bitgert Coin Price

Join our free newsletter for daily crypto updates!