The US House Financial Services Committee has released a draft of the possibilities. Groundbreaking Stablecoin Billwhich includes proposals such as a moratorium on other cryptocurrency-backed stablecoins and a research request for Central Bank Digital Currencies (CBDCs).
Draft available at Commission hearing pageis the first major cryptocurrency bill to move in 2023, following two significant stablecoin-related incidents over the past year. USD Coin (USDC), temporarily released from $1.
It creates a definition of payment stablecoin issuer and mirrors the terminology used by former Senator Pat Toomey (R-Pa.) when he introduced his own stablecoin bill in 2022. I’m here.
The moratorium on stablecoins like UST will continue until research can be conducted. The bill also calls for an investigation into the potential impact of his CBDC issued by the Federal Reserve.
Punchbowl News was the first to report on the bill’s disclosure.
The House Financial Services Subcommittee will hold a hearing on stablecoins on Wednesday, which will be attended by Dante Disparte of Circle Internet Financial, which issues USDC. Jake Chervinsky of the Blockchain Society. Columbia University professor Austin Campbell and New York Financial Services Commissioner Adrian Harris.
That hearing will take place the day after the entire Financial Services Commission met to hear Securities and Exchange Commission Chairman Gary Gensler speak.
A spokesperson for the chairman of the committee, Rep. Patrick McHenry (RN.C.), told CoinDesk that the bill published on the site has been circulating among lawmakers since last fall. rice field. A spokeswoman for Rep. Maxine Waters (D-California), a senior member of the committee, did not respond to a request for comment by press time.
Update (15 April 2023 21:33 UTC): Adds response from Rep. Patrick McHenry’s spokesperson.
