House committee ranking member says a stablecoin bill could be coming soon

House Financial Services Committee Ranking Member Maxine Waters said a stablecoin bill “in the short run” was coming amid negotiations with Republican lawmakers and the Senate.

Representative Maxine Waters, ranking member of the United States House Financial Services Committee, has suggested that lawmakers are making progress on passing stablecoin legislation.

In an April 24 interview with Bloomberg, Representative Waters said she had been working “very well together” with committee chair Patrick McHenry in legislation on stablecoins and clawbacks for banks and talking to lawmakers in the U.S. Senate. According to the ranking members, only a “few more tweaks” were necessary for the stablecoin bill to move forward in the House.

“It’s been very complicated,” said Representative Waters. “We have so many entities that are involved […] everybody has had something to say. We’ve had to recognize all of those concerns. In doing that, in the final analysis, it’s about making sure that investors and that the people are protected and that we don’t have a stablecoin bill where […] companies don’t have the assets that they say that they have.”

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