Patrick McHenry Still Thinks U.S. Legislation Governing Tether (USDT), USDC, Other Stablecoins Is Possible

McHenry has been negotiating stablecoin legislation with members of his party and House Democrats for months, and when a bill cleared his committee, it did so with the support of several Democrats. But there has been some resistance from the administration and from the panel’s top Democrat, Rep. Maxine Waters (D-Calif.), about the role of the federal government in overseeing stablecoin issuers.