New U.S. Stablecoin Bill Drafted by House Republicans as Compromise With Democrats

The panel’s chairman, Rep. Patrick McHenry (R-N.C.), has thought-about stablecoin laws a precedence since final yr, earlier than he took over the committee. When he gained the gavel, he continued the work, although Democrats had complained that Republicans had been re-writing the invoice with out their enter. They later launched their very own model. The slim scope of the invoice and its previous bipartisan help had been the strengths of the hassle so far, nevertheless it’s not but clear what Democrats consider the newest model.