Sen. Elizabeth Warren sent a letter to Reps. McHenry and Waters expressing concerns that new regulatory frameworks for the $157B stablecoin market could increase risks. Lawmakers, including Schumer, are discussing stablecoin reform and the potential inclusion of legislation in the FAA reauthorization bill.
NEW: Two people familiar tell me that McHenry, Waters and Schumer discussed attaching stablecoin AND cannabis banking legislation to the FAA bill today. H/T @BrendanPedersen, who first scooped that they met to talk stablecoins and FAA. For @POLITICOPro: https://t.co/9r02SJdwGC
U.S. Senate Majority Leader @SenSchumer reportedly met with the key House negotiators on stablecoin legislation, trying to figure out a strategy. Schumer has been said recently to be open to helping on a stablecoin bill. @jesseahamilton reports https://t.co/tnRP8hps5o
NEWS: McHenry and Waters met with Schumer today to discuss stablecoin reform and whether the FAA reauthorization could be a potential vehicle for bipartisan legislation. @BrendanPedersen and @LauraEWeiss16 have the details: https://t.co/ecMFzWuSQW
NEWS: The two top lawmakers on the House Financial Services Committee met with Majority Leader Chuck Schumer this afternoon to discuss stablecoin reform. Lawmakers discussed whether the FAA reauthorization could be a potential vehicle for bipartisan legislation. PBN text out now. https://t.co/Abcb6H7nGy
A New Stablecoin Bill Could Be Introduced In U.S. Senate This Week https://t.co/CAEkakQ9c3
1/ Sen Warren sent a letter to Reps McHenry & Waters which argues “new regulatory frameworks around the $157B stablecoin market…could amplify and entrench…risks rather than mitigate them.” That's backwards thinking – properly drafted stablecoin legislation helps, not hurts.