Bill addressing stablecoins risks in US likely delayed until September
According to a Monday report from the Wall Street Journal, people familiar with the matter said House members will likely delay voting on a stablecoin bill until September after being unable to complete a draft in time for a Wednesday committee meeting.
Committee Chair Maxine Waters (D-Calif.) and ranking Republican Patrick McHenry have been negotiating a bill that would give banks the ability to issue their own stablecoins and put nonbank issuers under the oversight of the Federal Reserve.