Coinbase CEO Urges Lawmakers to Give Stablecoins Regulatory Clarity

Brian Armstrong, chief executive officer at Coinbase, has urged lawmakers to pass crucial stablecoin legislation.

According to the Coinbase CEO, a big vote on the stablecoin bill is coming up tomorrow.

According to Punchbowl News reporter Brendan Pedersen, there has been a significant turnaround in “vibes” around the much-talked-about stablecoin bill. The final version of the bill is expected to circulate among Senate officials later today.

Senate Minority Leader Chuck Schumer had a meeting with the Democrats earlier today regarding the high-stakes bill.

However, the big question is how the bill will actually be voted on. Senate Republicans want a vote to happen this week, but this timetable might not satisfy the Democrats.

The market structure legislation

If the stablecoin bill ends up being passed by the Senate, U.S. lawmakers will be considering the crypto market structure bill. According to Armstrong, this legislation is even more important than the stablecoin one.

“We've been meeting with members of the Senate and both sides of the House, and there's a lot of good excitement about getting this done,” Armstrong stressed.