The US House Financial Services Committee released the third version of the stablecoin draft bill with a bipartisan approach.
However, at the same time, the bill aims to offer state regulators powers to oversee the companies issuing the tokens.
The bill further discusses legislation on who can issue these stablecoins and the requirements of a payment stablecoin. If approved the bill will offer first comprehensive guidance on the supervision and enforcement of stablecoin markets. The bill also proposes a two-year moratorium for collateralized stablecoins from the date of enactment.
If approved by the U.S. House of Financial Services Committee and the US Senate, the bill would become the first form of crypto legislature in the U.S.The latest version also grants a few additional authorities to the Federal regulator compared to the previous bill. These additional powers include the power to intervene against state-regulated issuers in cases of emergency. On the other hand, States could also pass their supervision duties over to the federal watchdog if they deem it necessary.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pa. House committee passes bill striking court gun locker lawDemocrats on the state House Judiciary Committee on Wednesday passed a bill eliminating the requirement for courts to provide gun storage to visitors, a move recommended in a task force report to address courthouse security concerns.
Read more »
House committee tees up contempt vote against FBI Director WrayA House committee is barreling toward a contempt vote Thursday against FBI Director Christopher A. Wray, with the chairman accusing Mr. Wray of orchestrating a coverup by withholding subpoenaed documents that allege President Biden took bribes.
Read more »
Comer Pulls Wray Contempt Charge After FBI Gives House Committee Access to Biden AllegationsRep. James Comer called off a vote to hold FBI Director Christopher Wray in contempt of Congress after the FBI granted House committee members access to allegations against President Joe Biden. Compare reports from ap, thehill and nypost:
Read more »
House committee opens probe into DHS Secretary Mayorkas over ‘dereliction of duty’The House Homeland Security Committee announced an investigation Thursday into Homeland Security Secretary Alejandro Mayorkas for “dereliction of duty,” in what could be the first concrete steps toward impeachment.
Read more »
House Oversight Committee members to view subpoenaed Biden documentHouse Oversight Committee members will view a subpoenaed document relating to the committee's investigation into POTUS and his family on Thursday. They will review the FBI's form on the alleged Biden criminal scheme from 10am-1pm in a secure area.
Read more »