Key US Lawmaker Says Talks Continue Over ‘Ugly Baby’ Bill to Oversee Stablecoins

One party to the bipartisan negotiations over the leading stablecoin bill in Congress says he still expects legislators can agree on final legislation in the "coming months."

Several issues have come up during the three-way negotiations with Rep. Maxine Waters (D-Calif.), the chairperson of the House Financial Services Committee

The Treasury Department, according to McHenry, the committee's top Republican.

However, he stated on Wednesday that he is optimistic that the negotiations will result in a bill that would define guidelines for how stablecoins—tokens

A bill like that would be the first big crypto oversight action in the US.

The House members have so far had problems reaching consensus on issues including how assets are held, what constitutes a crypto wallet, and which federal agency may oversee stablecoin issuers.


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