US House Releases Stablecoin Bill To Bring Clarity & Giving Fed Authority
US House to Provide Clarity on the Digital Asset Ecosystem The full US House Financial Services Committee hearing “ The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem ” is scheduled on June 13. advertisement The Financial Services Committee has released a third draft stablecoin bill combining concepts of both Republicans’ and Democrats’ financial services committees. The draft stablecoin bill aims regulation of payment stablecoins and other purposes. “The term primary Federal payment stablecoin regulators means the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration.” The bill contains details on primary Federal regulators, regulations on who can issue and requirements of a payment stablecoin, supervision and enforcement, state-qualified payment stablecoin issuers, and interoperabi...