Bloomberg: The two parties in the U.S. have differences on stablecoin regulation, which may hinder the swift passage of legislation

ChainCatcher news, according to Bloomberg, during a hearing on stablecoins held by the House Financial Services Committee on Wednesday local time in the U.S., there were disagreements between Democrats and Republicans. The chairman of the Financial Services Committee, Republican Patrick McHenry, stated that a draft stablecoin bill released this month lays the groundwork for establishing a federal framework, which is the result of negotiations he had with the committee's Democratic leader Maxine Waters. However, Democratic member Waters indicated that the negotiations were never completed, and many events occurred during that time, including the bankruptcy of FTX, so the negotiations should start from scratch. She also mentioned that Republicans have planned to draft their own separate bill.

It is reported that after the collapse of TerraUSD, stablecoin regulation has become a hot topic of discussion. However, there are disagreements between the two parties on how to regulate, which may hinder the swift establishment of a legislative agreement. (Bloomberg)