US House committee passes stablecoin-regulating STABLE Act
The US House Financial Services Committee has passed a stablecoin framework bill, the STABLE Act, which will now head to a full House vote.
The US House Financial Services Committee has passed a Republican-backed stablecoin framework bill, which will now head to the House floor for a full vote.
The Committee passed the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, with a 32-17 vote on April 2.
The bill would provide rules around payment stablecoins, a type of crypto token tied to a currency such as the US dollar, and aims to ensure issuers give information about their business and how they back their tokens.