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

According to TechFlow, on December 30, French Hill, Chairman of the House Financial Services Committee, stated that passing only the USD-backed stablecoin bill (Genius Act) without a complementary market structure bill like the Clarity Act is like having a mobile phone without a network and signal towers. Hill emphasized that the industry needs clear "signal towers"—clear rules for banks, brokers, DeFi protocol developers, and traders—in order to truly function. He pointed out that stablecoins require both issuance rules and distribution channels, and that a lack of market structure will lead to fragmented liquidity and stalled adoption.