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House Lawmakers Near Bipartisan Deal to Address Stablecoin Risks
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WASHINGTON—A pair of key House lawmakers are close to a bipartisan agreement to impose tougher oversight of so-called stablecoins, a type of cryptocurrency intended to be pegged to the dollar or another national currency, according to people familiar with the negotiations.
The potential deal between House Financial Services Committee Chairwoman Maxine Waters (D., Calif.) and Patrick McHenry (R., N.C.), the top Republican on the panel, wasn’t final and could fall apart, the people said. Administration officials led by Treasury Secretary Janet Yellen have pushed for the legislation, warning about potential risks to financial stability posed by stablecoins.
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