Republicans’ Stablecoin Bill Draft Would Expand States’ Powers
- Draft legislation has been shared with Democrats on panel
- Bill would be a slimmed-down version of prior proposal
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Republicans on the House Financial Services Committee unveiled their own version of a draft stablecoin bill that would provide for a narrower focus overall and a bigger role for state regulators than a prior proposal.
The GOP document, released Monday, makes a number of changes to draft legislation that was released by the panel ahead of a subcommittee hearing last week. That earlier version, which was circulated internally among members in September, was a byproduct of bipartisan negotiations that stalled at the end of last year.