The door is likely to be left open for certain kinds of financial companies to offer stablecoins, beyond just banks.
However, it's likely to discourage or even forbid more commercial companies from offering stablecoins. That squares withStaff at the House Financial Services Committee did not reply to a request for comment from Axios.
Two other sources familiar with the legislation tell Axios that this outline is generally correct, but added that everything has been very much in flux and many leaders in Washington are trying to weigh in right now.Whether the legislation will offer a way forward for only the most conservative stablecoins, or go further and undermine — or even forbid — more exotic stablecoins as well.
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