The House chugs ahead on stablecoin reform

The House Financial Services Committee used a hearing today to tee up its own version of stablecoin reform. The panel’s Republicans are aligned and supportive of the STABLE Act, a bill led by Chair French Hill (R-Ark.) and Rep. Bryan Steil (R-Wis.).

The committee’s Democrats are far less supportive, though there are receptive pockets among down-dais members. Remember: We don’t expect Republicans will need much help from Democrats to pass this legislation.