The House Financial Service’s Digital Assets Subcommittee met for a hearing on US crypto policy, indicating continued interest in regulation despite ongoing trade war dynamics. Representative Brad Sherman expressed skepticism about pro-crypto legislation, highlighting a preference for 'new coins' to disrupt the market. This hearing followed the advancement of the STABLE Act, which enhances state regulatory powers over crypto issuers, in contrast to the GENIUS Act that previously gained bipartisan support. Both bills are poised for a full House vote. If trade tensions escalate, crypto legislation may face delays, but there is an expectation that stablecoin legislation will progress. Meanwhile, a Senate motion to the SEC passed a vital cloture vote, with a final vote potentially scheduled soon, reflecting ongoing legislative activity around crypto policy.

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