U.S. House Republicans Make Case on Stablecoin Regulation Bill After Democrats Called for Do-Over

Unlike a previous version of the bill, which was published on the committee’s website ahead of a hearing on stablecoins last week, the new version leaves out algorithmic stablecoins, though it does repeat clauses stating that an issuer can either be a subsidiary of a federally insured depository institution or a state or federally regulated nonbank company.