House Financial Services Committee Chairman Hill: Stablecoin legislation needs accompanying market structure rules to be effective

Chairman of the House Financial Services Committee, French Hill, stated that having a stablecoin bill supported by the dollar (Genius Act) without accompanying market structure legislation like the Clarity Act is akin to having a mobile phone without a network and signal towers.

Hill emphasized that the industry needs clear "signal towers"—establishing clear rules for banks, brokers, DeFi protocol developers, and traders to truly operate. He pointed out that stablecoins require both issuance rules and distribution channels; a lack of market structure will lead to fragmented liquidity and stagnation in adoption.