Stablecoin Legislation, Other Bills Go Into Markup at House Financial Services Committee

The Clarity for Payment Stablecoins Act of 2023 (HR 4766) will be discussed in a markup hearing today of the House Financial Services Committee. During the hearing, the language of the bill will be reviewed, and additional amendments may or may not be added before a vote is taken. This is the next step in moving legislation to a House floor vote.

The Stablecoins Act aims to provide a clear path for both banks and non-banks to issue stablecoins, and the legislation is expected to garner sufficient support to move forward.

Other bills being reviewed include the following:

  • HR ____, the “Keep Your Coins Act of 2023”
  • H.J. Res. 66, a joint resolution disapproving the rule submitted by the Consumer Financial Protection Bureau relating to “Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)”

The full Committee hearing begins at 9AM today (July 25, 2023). The hearing memo is available here.

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