U.S. House of Representatives: An agreement will soon be reached with the Chairman of the Financial Services Committee on the stablecoin bill

Maxine Waters, the top Democrat on the U.S. House Financial Services Committee, predicted on Wednesday that she and Chairman Patrick McHenry will soon reach an agreement on stablecoin regulation legislation. "We are working to get a stablecoin bill in the short term," Waters said in an interview. She added that she had discussed stablecoins with Senate Majority Leader Chuck Schumer and Senate Banking Chairman Sherrod Brown, and said the Federal Reserve, Treasury Department and White House were all involved in drafting the bill. "This is about making sure that investors and people are protected. We have to make sure they have the assets that back stablecoins," Waters said. Federal regulation could lend legitimacy to the asset class, which could lead to wider adoption. (Bloomberg)