New Stablecoin Bill Drafted by House Republicans as Compromise With Democrats
The Republican chair of the House Financial Services Committee has released a new draft of the leading U.S. legislative proposal for overseeing stablecoins, and it includes some of the positions of Democratic lawmakers. The bill posted Thursday is still just a draft, meant to be further discussed at a June 13 committee hearing, but it marks another potential move toward a bipartisan negotiation on the legislation.
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. It gives the Fed a few additional authorities of the Republican’s previous bill, including a power in emergency situations to intervene against state-regulated issuers. States could also pass their supervision duties over to the federal watchdog.
Source
https://t.me/DeFi_Ethereum
