A rare bipartisan deal to regulate stablecoins is now on life support, underscoring how a proposal with widespread backing from lawmakers an
"But the legislative push collapsed last week after Democrats demanded provisions ensuring that the president and vice president are covered by bill language to prohibit lawmakers and senior executive branch officials from issuing stablecoins while in office."
This explains why there are concerns:
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US Stablecoin Bill Advances Despite Fear Of Elon Musk’s Twitter X Coin
In a momentous move, the US House Financial Services Committee has taken a significant step forward in establishing a federal regulatory framework for stablecoins despite the fears of Elon Musk creating his own. The proposed bill, known as the “Clarity for Payments Stablecoin” bill, has been the subject of intense debate and scrutiny.
After an arduous 13-hour markup, the bill was advanced, making…
Just In: Stablecoin Laws Very Soon A Reality In US With This Deal?
Just In: Stablecoin Laws Very Soon A Reality In US With This Deal?
A deal between two House lawmakers for US stablecoin rules could well be a reality soon. With the possibility of a deal agreement in coming days, regulators could soon have a framework to control stablecoin issue. If all goes as planned in the coming weeks, the deal could pass the House within next few months.
The post Just In: Stablecoin Laws Very Soon A Reality In US With This Deal? appeared…