Maxine Waters, a senior Democratic member of the U.S. House Financial Services Committee, hopes to reach a "significant agreement" on stablecoin legislation by the end of the year. Waters and Republican Congressman Patrick McHenry have been working on a stablecoin regulatory framework bill since 2022.
Maxine Waters emphasized that the new bill should prioritize consumer protection and strong federal supervision, while allowing multiple ways to create stablecoins, but the Federal Reserve needs to play a leading role. McHenry is optimistic, but Congress has limited time to complete legislation before the end of the year. This move may end the two-year debate on stablecoin legislation in Washington. (TheBlock)