Rep. Maxine Waters (D-Calif.) has proposed a deal to Rep. Patrick McHenry (R-N.C.), the Republican chair of the committee that could potentially advance long-stalled stablecoin legislation in the U.S. before the end of 2024.
What Happened: Axios reported on Monday, citing a Hill staffer, that the proposed package might also address other issues such as deposit insurance reform and legislation allowing legal cannabis companies to access the banking system.
However, it is still unclear whether McHenry or House Speaker Mike Johnson (R-La.) will approve the proposal. If an agreement is reached, the National Defense Authorization Act could be used as a vehicle to push the legislation forward.
Axios further reported that McHenry, a significant ally of the crypto sector, has chosen not …
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