Robinhood (HOOD) co-founder and CEO Vlad Tenev expressed optimism on Tuesday about the possibility of stablecoin legislation passing this year.
When asked on Yahoo Finance’s Opening Bid podcast whether lawmakers would push through stablecoin regulations in 2025, Tenev responded, “I think so.” He pointed to the fact that a stablecoin bill is already in circulation, with another having been introduced before the election, suggesting there is growing alignment on the issue.
Stablecoins Gain Legislative Momentum
Stablecoins are cryptocurrencies designed to maintain a stable value by being backed by U.S. dollars or other assets. Regulatory efforts around these digital assets have gained traction, with key lawmakers taking action.
Republican Sen. Tim Scott, who chairs the Senate Banking Committee, has launched a working group to fast-track elements of digital asset legislation. Scott is collaborating with the Trump administration’s crypto policy lead and Silicon Valley investor David Sacks.
Meanwhile, Republican Sen. Bill Hagerty recently introduced the Guiding and Establishing National Innovation for US Stablecoins Act, a bill focused on regulating stablecoins.
The Next Frontier for Stablecoins
Tenev highlighted a major challenge for stablecoins: passing along interest to holders.
"We're in a high-interest environment. A lot of the leading stablecoins don't have a good way of doing that," he noted.
He sees this as a key opportunity for broader adoption. “If you could easily get 4% on your stablecoin, not only would you have an incentive to use it for crypto transactions, but you’d also have a reason to hold money in stablecoins—just like a high-yield savings account. That’s very, very powerful.”
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