US Lawmakers Aim For Stablecoin Legislation By Year-End

According to Odaily, senior Democratic member of the U.S. House Financial Services Committee, Maxine Waters, has expressed hope for reaching a significant agreement on stablecoin legislation by the end of this year. Waters, along with Republican Representative Patrick McHenry, has been working on a regulatory framework for stablecoins since 2022. Waters emphasized that the new legislation should prioritize consumer protection and robust federal oversight while allowing multiple pathways for creating stablecoins, with the Federal Reserve playing a leading role. McHenry remains optimistic about the progress, although he acknowledges that Congress has limited time to finalize the legislation before the year's end. This effort could potentially conclude a two-year debate in Washington regarding stablecoin regulation.