Despite Recent Setback, Trump Should Sign Stablecoin and Market Structure Legislation Before August Recess

Despite a recent setback, U.S. President Donald Trump should be able to sign stablecoin and market structure legislation before Congress goes on break in August

U.S. President Donald Trump should be able to sign stablecoin and market structure legislation before Congress goes on break in August, despite a recent setback, a White House official said on Wednesday.

Lawmakers are still discussing the legislation, which is good, said Bo Hines, the executive director of the President's Council of Advisers on Digital Assets.

“The negotiations are ongoing. But I remain steadfast in my optimism that we’re going to achieve – the President’s desire is to do it – but stablecoin legislation and market structure legislation before the August recess.”

Still, he acknowledged that the legislative process was “evolving.”

Earlier on Wednesday, Hines said that Trump’s crypto ventures, as well as the president’s family’s tie-ups, did not pose any conflicts of interest.

“His sons have the right to engage in capital markets as private business people, like anyone else does in the U.S.,” he said on CoinDesk TV. “I don’t see any conflict in doing so. By the way, it should be exciting that they’re engaging in this space. If you’re a good business person, you should be looking at digital assets and saying, ‘how can I get involved?’ Because this is the next generation of finance.”

He repeated this argument on stage at Consensus.

“As we launch these tariff negotiations and trade negotiations play themselves out, we want to establish ourselves as a leader in digital asset financial technology more generally,” he said.

Asked on CDTV about reports that a small company was purchasing TRUMP coins, Hines said, “I’ll say very firmly, the president of the United States can’t be bought.”

The White House and members of its working group are still working on a strategic Bitcoin reserve, Hines said on stage.