Partisan Disputes Derail Progress on Stablecoin Regulation
posted 27 Jul 2023
US stablecoin legislation negotiations have stalled, with House Financial Services Chair Patrick McHenry blaming the White House. McHenry noted that the parties were closer than ever to a bipartisan deal after 15 months of talks.
However, Rep. Maxine Waters criticized the current stablecoin bill as "deeply problematic," voicing concerns about state regulators approving stablecoin issuances without Federal Reserve input. She also feared companies like Amazon and Facebook issuing their own digital currencies.
However, Rep. Maxine Waters criticized the current stablecoin bill as "deeply problematic," voicing concerns about state regulators approving stablecoin issuances without Federal Reserve input. She also feared companies like Amazon and Facebook issuing their own digital currencies.
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