The U.S. House Financial Services Committee has been working on drafting a bipartisan bill to regulate stablecoins with input from the Treasury. An expedited first vote was intended for tomorrow Jul 27, during a markup session. However, yesterday the session’s agenda was published with no sign of the stablecoin bill. Additionally, the Wall Street Journal reported sources confirming that the bill has been pushed back until after the August recess.
It said that there are still core issues being debated, including standards over custodial wallets.
The work is being led by Committee Chairwoman Maxine Waters and Republican ranking member Patrick McHenry.
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