Summary
Congress has been unable to pass new laws for cryptocurrencies, but stablecoin legislation may be easier to achieve as they resemble other regulated products and have important conventional assets.
Key Points
1. Congress has faced challenges in passing new laws for cryptocurrencies, despite the need for greater clarity in the industry.
2. Stablecoin legislation may be easier to implement compared to other crypto regulations, as stablecoins share similarities with already regulated products like money-market funds.
3. There is a strong incentive to create regulations for stablecoins, as they hold important assets such as U.S. Treasuries.