The crypto lobby notched wins when a key House committee advanced bills that laid out industry backed regulatory frameworks for digital assets and stablecoins.
his long-awaited stablecoin regulatory framework, the Clarity for Payment Stablecoins Act, creates a "uniform federal floor" for the digital assets, and protects consumers by requiring stablecoins to be backed "one-to-one by specific high-quality liquid assets."the bill undermines its own requirements by allowing any federal or state regulator to expand the list of eligible reserve assets.
But these victories were tempered by an effort in the Senate to rein in crypto's far-reaching influence.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Threat of government shutdown lingers as Congress heads for August recess'We should not fear a government shutdown,' Republican Congressman Bob Good said. 'Most of what we do up here [on Capitol Hill] is bad anyway.'
Read more »
House Judiciary Committee to consider recommending Congress hold Zuckerberg in contemptThe House Judiciary Committee on Thursday will consider recommending Congress hold Meta CEO Mark Zuckerberg in contempt for failing to comply with a subpoena seeking internal company documents involving online censorship.
Read more »
House expected to adjourn for August recess one day early as spending battle drags onThe House plans to adjourn for its August recess one day earlier than originally planned after lawmakers remain split on the agriculture appropriations bill due to GOP disagreements on spending cuts, a House GOP aide confirmed to the Washington Examiner.
Read more »
White House Derailed Negotiation on U.S. House Stablecoin Bill: McHenryA House stablecoin bill is “deeply problematic and bad for America,” RepMaxineWaters said today, collapsing hopes for a deal that committee chair PatrickMcHenry said was already derailed by the White House. jackschickler and jesseahamilton report.
Read more »
US stablecoin talks stall, as senior House Republican blames White HousePolicymakers in the U.S. have hit an impasse over an agreement to create a comprehensive framework for payment stablecoins.
Read more »