House Democrats are considering their own version of a long-anticipated stablecoin bill, a person familiar with the situation told CoinDesk, but their views demonstrate a substantial rift with a parallel Republican effort.
The proposal, a successor to a version spearheaded by Reps. Maxine Waters (D-Calif.) and Patrick McHenry (R-N.C.) last year, comes weeks after Waters said lawmakers need to start from scratch on legislation addressing this corner of the crypto market.
Republicans on the House Financial Services Committee had moved ahead on a new draft of a stablecoin bill in recent weeks, but it was greeted with frustration by the panel’s Democrats, including Rep. Maxine Waters (D-Calif.), the committee’s
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