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House Lawmakers Delay Bill on Stablecoin Regulation Until September
Summary: According to sources familiar with the matter, lawmakers cannot finish work on a bipartisan bill to regulate stablecoins and will delay it until September. U.S. House lawmakers will continue negotiating the deal, and apparently, consideration of the bill is postponed until after the Congress break in August of this year. Consideration of the stablecoins measure ...
According to sources familiar with the matter, lawmakers cannot finish work on a bipartisan bill to regulate stablecoins and will delay it until September. U.S. House lawmakers will continue negotiating the deal, and apparently, consideration of the bill is postponed until after the Congress break in August of this year.
Consideration of the stablecoins measure was pushed back by Biden's administration officials and the bipartisan group of lawmakers. They are worried about a lack of comprehensive standards in the current laws and potential risks that dollar (or other currency) pegged cryptocurrencies may pose to financial stability.
Lawmakers could not finish work on the draft bill before a planned committee vote set to take place on Wednesday, according to the same sources quoted by WSJ. That will delay the deal until September, when Congress returns from break. Both Chairwoman Maxine Waters (D., Calif.) from House Financial Services Committee and republican Patrick McHenry (R., N.C.), the people responsible for the potential deal, refused the request to comment on the matter.
Author: Garrett Meifert
Tags: Bill,Stablecoin,Tether,US congress,US Senate,USDC,USDT
Link: House Lawmakers Delay Bill on Stablecoin Regulation Until September [Copy]
