U.S. Representative Bryan Steil (R-WI) argues Congress should advance stablecoin regulation and crypto market structure legislation in tandem.

Steil contends the two areas are interconnected and progress together benefits both the stablecoin and broader crypto sectors.

U.S. Representative Bryan Steil (R-WI) expressed his view that Congress should move in tandem on stablecoin and crypto market structure legislation.

According to Steil, the two areas are closely linked, and advancing them together would benefit both the stablecoin and broader digital asset sectors.

"I think both of those are critically important," Steil stated during a recent podcast appearance, referring to the two bills that are currently being discussed in Congress.

"We're certainly seeing more energy in the Senate to try to get a stablecoin bill done, especially after President Trump asked for a bill to be on his desk by August."

Trump's request during a recent meeting with bipartisan lawmakers sparked speculation among crypto watchers about the possibility of bills that could fundamentally alter the U.S. crypto landscape being finalized by the August recess.

On the House side, Steil, who chairs the Financial Services Subcommittee covering digital assets, fintech, and AI, sees the Senate as a partner, and he's aiming to match their pace.

"My goal is to try to move in tandem both a stablecoin bill and a market structure bill," Steil said.

"I think we'll be able to make August for the president's request on stablecoins."

Navigating the Legislative Path: Genius Act vs. Stable Act

Outlining the process for passing these key pieces of legislation, Steil noted that there's broad support for the Genius Act, which was introduced in the Senate by Senator Bill Hagerty (R-TN).

On the House side, Steil partnered with Rep. French Hill (R-AR) to sponsor the Stable Act, and they plan to introduce an updated version of the bill that aims to align more closely with the Senate bill.

"I think we'll see both the House and Senate pass bills in both chambers, and then we'll go to conference to work out any differences between the two chambers' bills," Steil explained.

"And hopefully, we'll pass a single bill out of both chambers later this year."

This detailed legislative path, while potentially seeming lengthy to some industry observers, allows lawmakers to focus on "getting things right," according to Steil.

"We're trying to be careful and get this process right, especially given the importance of the issues we're working on and the impact they'll have on our financial system and the digital asset industry," he concluded.