Two days in a row, the House Financial Services Committee held a hearing on crypto-related issues.Last year, the first crypto legislation was supposed to be common sense rules for stablecoins. The two parties couldn’t come together, however, and the legislation was scrapped. Now, the Republicans have reintroduced a draft and yesterday held a hearing that featured witnesses including the Blockchain Association’s Jake Chervinsky and stablecoin expert (and recent Breakdown guest) Austin Campbell. -“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.