Rep. Maxine Waters formally postponed negotiation of the stablecoins bill until after Congress’ summer recess.
- U.S. Congresswoman Maxine Waters Delayed Stablecoins Bill
- The bill will be discussed after the August recess.
- More agreements need to be reached
Last month, the commissioner of the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) Hester Peirce, known asCrypto Mom, reported that it could come to placeuna regulación sobre las stablecoins más pronto que tarde. In the U.S. Congress, in fact, there is a bill that is seeking just that.
However, Rep. Maxine Waters, chairwoman of the House Financial Services Committee, reported that the bipartisan Stable Currencies bill was officially delayed until after Congress recesses in August.
“While the Ranking Member [Patrick McHenry], Secretary Janet Yellen and I have made considerable progress toward agreement on legislation, unfortunately we are not there yet and therefore will continue our negotiations through the August recess.” Waters said in a statement. “ I hope to reach an agreement in the near future and mark up bipartisan legislation when we return.”
The bipartisan effort, in which the panel’s top Republican, Rep. McHenry has also played a prominent role, was already delayed this week after Treasury Secretary Janet Yellen insisted that the legislation include more protections for crypto-investors, people familiar with have said the negotiations.
The Treasury Department won’t back the bill unless it also ensures that industry exchanges keep their money separate from the companies’ assets, which would protect them if the companies go bankrupt, the people said.
It’s worth noting that Waters has had concerns about stablecoins for several years and was the congresswoman who led the research on the currency currency is a medium of exchange that defines value. project Libra of Facebook, that ended up closing.
Sources: Coindesk, archive
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