Trump’s call for ‘rapid’ stablecoin bill passage clashes with legislative realities, as House Financial Services Chair French Hill signaled extended negotiations. Key sticking points include state vs. federal oversight, reserve auditing requirements, and issuer capitalization rules. While bipartisan support exists, technical complexities delay consensus.
Democrats remain wary despite crypto industry outreach, with some viewing Trump’s endorsement as politically toxic. This partisan friction could prolong debates into 2026, especially if elections shift congressional dynamics. Industry advocates argue delays cede leadership to jurisdictions like the EU with clearer frameworks.
The push reflects crypto’s growing political influence but underscores how election-year posturing rarely accelerates complex financial legislation. Realistically, any bill faces Senate hurdles even if House negotiations conclude, making near-term enactment unlikely despite presidential pressure.
