House Committee Debates New Stablecoin Regulations

The U.S. House Financial Services Committee recently held extensive hearings on a proposed bill aimed at regulating stablecoins. This move seeks to establish new guidelines for an industry worth nearly $240 billion, while also aiming to reduce government involvement. The proposal aims to ensure stablecoin issuers operate independently, without reliance on government backing. However, the committee’s discussions revealed significant divisions between Democrats and Republicans.