U.S. House Ditching Its Stablecoin Bill to Back Trump’s Choice During ‘Crypto Week’

The industry is likely about to get its first major win in Congress with a bill to regulate stablecoin firms, though questions abound about the destiny of the more important effort to police the rest of the industry. Under pressure from President Donald Trump, the House is on track to vote on the Senate’s stablecoin bill rather than combining that legislation with its own version. Crypto momentum is high in Washington, with a Senate hearing on Wednesday and Crypto Week coming next week, but a number of obstacles remain between the sector and its final legislative goals.