“A U.S. legislator who is at the forefront of discussions on cryptocurrency is predicting that a law for digital assets will be passed by the next year.”

Representative McHenry, who played a crucial role in crafting cryptocurrency laws in the House, highlighted the significant backing from both political parties for his Financial Innovation and Technology for the 21st Century Act (FIT21). Despite resistance from the executive branch, more than one-third of House Democrats voted in favor of the measure last week, indicating a promising outcome. McHenry expressed optimism that this support will persist in future congressional sessions, even as far as 2025 if needed. This backing is anticipated to have a positive impact on both the market-structure bill and upcoming legislation aimed at regulating stablecoin issuers.