Chairman Hill of the House Financial Committee: Stablecoin legislation requires supporting market structure rules to be effective

ChainCatcher message, Chairman of the House Financial Services Committee French Hill stated that relying solely on the USD-backed stablecoin bill (Genius Act) 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, and the lack of market structure will lead to fragmented liquidity and stagnation in adoption.