US Congressman Aims to Pass Stablecoin Regulation Before Retirement
Despite the failure of the full U.S. House to vote on a bill his House Financial Services Committee passed previously, U.S. Rep. Patrick McHenry (R-N.C.) remains confident that Congress can produce a stablecoin regulation law before he retires at the end of the year. McHenry has been negotiating stablecoin legislation with members of his party and House Democrats for months, but there has been some resistance from the administration and from the panel's top Democrat, Rep. Maxine Waters (D-Calif.), about the role of the federal government in overseeing stablecoin issuers. While individual U.S. senators have produced legislation that would address stablecoins, both chambers would need to pass a bill that President Joe Biden would then be willing to sign.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget donates HK$12 million to support fire rescue and reconstruction efforts in Tai Po, Hong Kong
Bitget Spot Margin Announcement on Suspension of ELX/USDT Margin Trading Services
Enjoy perks for new grid traders and receive dual rewards totaling 150 USDT
Bitget Spot Margin Announcement on Suspension of BEAM/USDT, ZEREBRO/USDT, AVAIL/USDT, HIPPO/USDT, ORBS/USDT Margin Trading Services
