US House Committee Publicizes Potential Stablecoin Bill Of 2023
The US House Financial Services Committee unveiled a draft of a potentially historic stablecoin bill that calls for studying a central bank digital currency (CBDC), as well as a moratorium on stablecoins backed by other cryptocurrencies. It establishes definitions for payment stablecoin issuers, using language similar to that used by former Pennsylvania senator Pat Toomey (R) when he unveiled his own stablecoin legislation in 2022.
The ban on stablecoins like UST will last until a study can be conducted. The bill also seeks a study of the potential impact of CBDCs issued by the Federal Reserve. On Wednesday, a House Financial Services subcommittee will hold a hearing on stablecoins with testimony from Dante Disparte of Circle Internet Financial, which issues USDC, Jake Chervinsky of the Blockchain Association, Columbia Professor Austin Campbell, and Superintendent Adrienne Harris of the New York Department of Financial Services. A day later, the full Financial Services Committee will convene to hear from Gary Gensler, the chair of the Securities and Exchange Commission.
Source
https://t.me/DeFi_Ethereum
