The last hearing in the USA revealed the main point of disagreement between Republicans and Democrats.
The dispute between Republican and Democrat lawmakers continues on the stablecoin bill discussed in the US. The differences of opinion between the two groups became clear in the last hearing.
US Discusses Stablecoin Bill
The debate over whether states can regulate stable cryptocurrencies and whether this will create a “race to the bottom” is growing day by day. He took most of his recent congressional hearings on creating a comprehensive framework for digital assets.
The hearing, held at the Digital Assets, Financial Technology and Inclusion Subcommittee, drew attention as the top Republicans and Democrats on the Republican and Democrat House Financial Services Committee took the discussions on stable cryptocurrency bills to the public.
The debate over stablecoin legislation has drawn unusual lines of alliance, as Republicans who often support easing regulation have argued that the bills create new barriers for the still-developing technology. Both sides consider the need for stablecoin legislation after the situation last year resulted in stablecoins impacting much of the crypto market, the collapse of FTX and its affiliates, and the financial contagion affecting a large part of the crypto and digital assets industry.
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