Stablecoin bills continue to rain down from the House Financial Services Committee, whose Republican chief, PatrickMcHenry, put out a new one that nods toward Democratic positions. He's trying to get set for a June 13 hearing. jesseahamilton reports
of the leading U.S. legislative proposal for overseeing stablecoins, and it includes some of the positions of Democratic lawmakers.committee hearing
This considerably shorter new draft is meant to start melding some of the two parties’ positions, according to a committee spokesperson, and also adds further points from Republican committee members. This version would call for the Fed to write requirements for issuing stablecoins but would still let state regulators oversee the companies issuing the tokens.
The panel’s chairman, Rep. Patrick McHenry , has considered stablecoin legislation a priority since last year, before he took over the committee. When he won the gavel, he continued the work, though Democrats had complained that Republicans were re-writing the bill without their input. They later. The narrow scope of the bill and its past bipartisan support had been the strengths of the effort to date, but it’s not yet clear what Democrats think of the latest version.
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