U.S. Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), both advocates for Bitcoin, are actively considering the language for a bill that would cover stablecoins, as reported by Axios. This legislative effort, which is months away from being finalized, aims to regulate cryptocurrencies designed to maintain a consistent price, potentially unlocking $1 trillion of new liquidity into the crypto market. The involvement of figures like @jerallaire and platforms such as @solana and @circle highlights the significant impact this bill could have on the crypto sector, including increasing the total value locked (tvl) in the market to over $600 million.