Stablecoin Regulation Bill Nearing Completion, Waters Says

IconCrypto News Terminal25 Apr, 2024

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Stablecoin Regulation Bill Nearing Completion, Waters Says

US House Financial Services Committee Chairwoman Maxine Waters says she and the committee’s top Republican, Patrick McHenry, are “very close” to finalizing the text of a stablecoin regulation bill, Bloomberg reported. “We’ve been negotiating with Ranking Member McHenry now for 22 months, and it looks like we’re going to come to an agreement very soon,” Waters said. “There may be a few more changes, but it looks very promising.” Waters added that she has spoken about stablecoins with Senate Majority Leader Chuck Schumer and Senate Banking Committee Chairman Sherrod Brown, and that the Federal Reserve, Treasury Department and White House have all been involved in the drafting of the bill. “The goal is to make sure that investors are protected,” Waters said. Previously on 24 April 2024, US House Financial Services Committee Chairwoman Maxine Waters said she and the committee’s top Republican, Patrick McHenry, are “very close” to finalizing the text of a stablecoin regulation bill, Bloomberg reported.

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