United States legislators and regulators are once again in the limelight. The cryptocurrency-related provisions of the infrastructure bill, a tiny grain of sand in the grand scheme of the omnibus legislation, had all laser eyes glued to the fateful House of Representatives vote — which never happened. However, there is an underlying sense that the bill may become law sooner than expected.

Jerome Powell (Federal Reserve Chair) also confirmed to Congress that the Fed was in good standing. sees no useIn a China-style blanket ban of cryptocurrency, Biden is looking to tighten regulation of stablecoins. This narrative has been in circulation for some time and President Joe Biden’s administration seem to have decided how they want to rein in stablecoins.