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News Explorer — US House Financial Services Committee Proposes US Federal Reserve as Key Regulator for Stablecoins

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Jun 9, 10:42 am

Cointelegraph

US House Financial Services Committee Proposes US Federal Reserve as Key Regulator for Stablecoins

The United States House Financial Services Committee has released the third draft of the stablecoin bill presented by its chair, Representative Patrick McHenry. The draft bill proposes the U.S. Federal Reserve as the key regulator tasked with formulating requirements for issuing stablecoins, while also granting state regulators powers to oversee the companies issuing the tokens. If approved, the bill will be the first comprehensive guidance on the supervision and enforcement of stablecoin markets in the United States.

The United States House Financial Services Committee has released the third draft of the stablecoin bill presented by its chair, Representative Patrick McHenry. The draft bill proposes the U.S. Federal Reserve as the key regulator tasked with formulating requirements for issuing stablecoins, while also granting state regulators powers to oversee the companies issuing the tokens. If approved, the bill will be the first comprehensive guidance on the supervision and enforcement of stablecoin markets in the United States.

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