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Fortune

Leo Schwartz

Congress must pass stablecoin legislation, top crypto group tells lawmakers

Crypto Patrick McHenry United States Blockchain Association Jake Chervinsky Maxine Waters Fortune TER House Financial Services Committee Kristin Smith

Representative Maxine Waters, a Democrat from California and ranking member of the House Financial Services Committee, left, speaks with Representative Patrick McHenry, a Republican of North Carolina and chairman of the House Financial Services Committee, during a hearing in Washington, DC, US, on Tuesday, Feb. 7, 2023. (Credit: Ting Shen—Getty Images)

As Congress considers the future of crypto, a leading trade association is urging lawmakers to start with stablecoin legislation.

The Blockchain Association—composed of top companies including Kraken, Ripple, Anchorage Digital, and Grayscale—released a letter, shared exclusively with Fortune, to House Financial Services Committee chair Patrick McHenry (R-N.C.) and ranking member Maxine Waters (D-Calif.) on Thursday ahead of a pivotal hearing on crypto.

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