In the United States (USA), the search for a way out continues for stablecoins, which has been the subject of debate for a long time. Recently, the regulation that will determine the fate of stablecoins has been postponed to the term of Congress after the August recess, and the bill has lost its heat. However, it was stated that the US Financial Services Committee is working on a bilateral agreement.
Financial Services Committee Under Pressure on Stablecoin
Maxine Waters and Patrick McHenry of the Financial Services Committee are working on a bilateral agreement on stablecoins. In the statements made by the committee yesterday, it was announced that the time to draft a bill for stablecoins has already come.
Emphasizing that the stablecoin operation should take place in the system, McHenry said, “We are close. We’re not there yet, but we’re close. We want to make sure that this bill is technically adequate and enforceable.” said.
Emphasizing that several innovations should come for cryptocurrencies, Waters made a written statement as follows:
“While Congressman, Senator Yellen and I have made significant progress towards reaching an agreement on legislation, unfortunately we are not there yet. Therefore, we will continue our negotiations during the August holiday. It is very important that we continue to move the ball forward in this regard. So we can have a regulatory framework that allows responsible innovation while protecting consumers.”