Stablecoin regulation won't be in the near future - U.S. Congressman Jim Himes

According to the congressman, the long-awaited regulatory framework for stablecoins won't be considered anytime soon.

Apparently, there are more important things to do than all that new technology, like eating ice cream in the park with Uncle Joe while talking about the strength of the traditional U.S. economy.

Well, the reason is the future congressional elections, to be exact. During the October 18 finance conference, Congressional Representative Jim Himes said that the StableCoin bill will not pass now because of the upcoming election.

"It probably won't happen in early 2023," Himes said, as there is growing frustration in the U.S. over the lack of clarity about crypto-assets.

On the other hand, they are the only ones who can interrupt this "lack of clarity." Although Jim Himes is still boasting about how great he is and how cool he is for crypto :D.

"Four years ago, if you had said "bitcoin," "cryptocurrency" and "DeFi" in the Congressional Chambers, no one would have known what you were talking about. The progress made in Congress is quite remarkable."

However, it is likely that politicians and bankers only paid attention to cryptocurrencies because the markets have risen about 400% in the last four years.

Well, this whole regulatory framework, or rather its adoption, could take forever because the U.S. is so dependent on the traditional economy that a second (digital) economy would have to be very steeply thought out. 

Fine, let them think about the laws. That's their job. Our concern is to find cool crypto projects to raise $$$ on them. Moni Alpha helps us nicely in this. See for yourself.