US House introduces draft of legislation for stablecoins

US House introduces draft of legislation for stablecoins



Representative Patrick McHenry, leading the United States House Financial Services Committee, has revealed the third version of the stablecoin bill.



The bill, titled "The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem," was introduced on June 8 and is scheduled for discussion during the upcoming committee hearing on June 13. If passed, it would become the first official crypto-related law in the United States, signifying a significant milestone.



The latest draft of the bill designates the U.S. Federal Reserve as the primary regulatory authority responsible for establishing the criteria for issuing stablecoins. Additionally, it grants state regulators the authority to oversee the companies involved in issuing these tokens. The bill also outlines the requirements for payment of stablecoins and addresses


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