Financial Services Committee Chair Waters Says Bipartisan Stablecoin Legislation Is "Not There Yet"
House Financial Services Committee Chair Maxine Waters (D-CA) reported that negotiations on bipartisan stablecoin legislation will continue throughout the Congressional recess in August.
In a public statement, Chair Waters expressed optimism that a bipartisan agreement that promotes innovation but does not put consumers at risk would be reached soon. She highlighted the need for "legislation that would better regulate stablecoins and require the Federal Reserve to research and develop a central bank digital currency, so we remain competitive globally."
She also summarized the diligence of the Committee, noting multiple hearings on digital assets featuring testimony from prominent figures in the digital asset industry, including executives at some of the largest cryptocurrency companies and key expert government officials (see recent coverage).
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