The cryptocurrencies of the president of the United States, Donald Trump, including the launch of his Trump memecoin in January, have complicated bipartisan efforts to approve the legislation of Stablecoin, representative French Hill, a legislator in the center of the cryptographic efforts of the industry in Washington, said Wednesday in Consensus 2025 in Toronto.
However, Hill, president of the Chamber Financial Services Committee, which recently published a draft discussion of a project of structure of the crypto market, said that there is still a strong bipartisan consensus about the need for cryptographic legislation, despite the growing frustration of the Democrats with the possible conflicts of interest and the opacity of the personal investments of Crypto de Trump.
“Despite the policy about the investments of Memecoin and Crypto of Trump that has definitely made our work more complicated, still argument that behind the scene, you have constructive members and both sides of the Capitol and in both political parties that work to find consensus,” said Hill in his early interview with Coindesk.
The bipartisan consensus is not limited to the need for Stablecoin regulations in the United States, said Hill, added that legislators on both sides of the hall also agree on the need for a market structure invoice.
“I don’t want to use a cliché too trite as peanut butter and gelatin, but these invoices work together in the sense that you have a stable, where will it use it?
At the White House Digital Assets Summit, Trump said he wanted Congress to have a Stablecoin bill and a market structure bill in his desk before the recess of August.
“I think that is feasible,” said Hill. “We are on the way. We just have to follow and follow him, and we will try to reach the deadline of President Trump.”
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