U.S. House Moves Forward on Key Crypto Legislation Despite Hurdles

The U.S. House of Representatives is on the verge of passing significant cryptocurrency legislation, including a framework for stablecoins. Scheduled to be discussed on Thursday, the legislation could represent a landmark moment for the digital assets market.

House lawmakers anticipate swift passage of the stablecoin bill, already approved by the Senate, which would soon be taken up by President Donald Trump. Despite initial conservative resistance, prolonged negotiations resulted in a compromise involving a ban on the central bank's issuance of digital currency, included in an unrelated defense bill.

This legislative progress arrives amid growing interest in stablecoins, seen as efficient tools for transferring money. However, debates continue about their impact and the implications of potential government-issued digital currencies.

(With inputs from agencies.)