Mars Finance reports that French Hill, Chairman of the House Financial Services Committee, stated that passing the USD-backed stablecoin bill (Genius Act) alone without supporting market structure legislation like the Clarity Act is like having a phone without a network or signal tower. Hill emphasized that the industry needs a clear “signal tower”—clear rules for banks, brokerages, DeFi protocol developers, and traders to truly operate. He pointed out that stablecoins require both issuance rules and distribution channels; without market structure, liquidity will be fragmented and adoption stagnate.
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Chairman Hill of the House Financial Committee: Stablecoin legislation requires supporting market structure rules to be effective
Mars Finance reports that French Hill, Chairman of the House Financial Services Committee, stated that passing the USD-backed stablecoin bill (Genius Act) alone without supporting market structure legislation like the Clarity Act is like having a phone without a network or signal tower. Hill emphasized that the industry needs a clear “signal tower”—clear rules for banks, brokerages, DeFi protocol developers, and traders to truly operate. He pointed out that stablecoins require both issuance rules and distribution channels; without market structure, liquidity will be fragmented and adoption stagnate.