Stablecoin Regulation Draft Unveiled by Waters

Maxine Waters Introduces Stablecoin Regulation Draft Amid Bipartisan Efforts

• Maxine Waters, a Democrat on the House Financial Services Committee, proposed a stablecoin regulation draft.
• The draft assigns oversight to the OCC, Federal Reserve, FDIC, and state regulators.
• Stablecoin issuers must maintain one-to-one reserves for stability under Waters’ proposal.
• Republicans also introduced a separate bill giving OCC authority over nonbank stablecoin issuers.
• Bipartisan efforts in the Senate include Senator Bill Hagerty’s national framework proposal for stablecoins.

Both Democratic and Republican lawmakers are actively proposing different approaches to regulate stablecoins, highlighting ongoing bipartisan legislative efforts.