US Congress Takes Action on Crypto Regulations with New Bills and Hearings.

House Republicans have released a new draft of the leading US legislative proposal for overseeing stablecoins, which includes some positions of Democratic lawmakers. The bill would call for the Federal Reserve to write requirements for issuing stablecoins but would still let state regulators oversee the companies issuing the tokens. The bill, if passed, would establish the first US regulations for stablecoins. The new draft also cuts an earlier section calling for research on the merits of a digital dollar.