Push for Stablecoin Law Gets Surprise Boost from Senate’s Sherrod Brown
- Banking chairman says any bill must address his concerns
- Crypto-skeptic wants combo with pot banking, banker clawbacks
Sherrod Brown
Photographer: Mandel Ngan/AFP/Getty ImagesThis article is for subscribers only.
A long-delayed bid to write a new law for stablecoins is getting a push from an unexpected lawmaker: crypto-skeptic Sherrod Brown.
The Senate Banking Committee chairman said Tuesday that he’s open to advancing such legislation in a package with a bill authorizing banks to do business with marijuana businesses and another measure clawing back compensation for executives at failed lenders. Support from Brown, an Ohio Democrat, would significantly boost chances for passage.