Stablecoin Regulation Faces Partisan Divide in GOP-Led House (1)

House lawmakers are reviving their focus on stablecoins under new Republican leadership, but partisan fault lines are dimming the chances for any new law on the controversial cryptoassets.

Republicans and Democrats on a House Financial Services Committee subcommittee kicked off a hearing on Wednesday bickering with each other — a bad sign for any quick legislative agreement. The assets had been one of the few areas where members of the two parties have found some common ground.

Republican Patrick McHenry, who chairs the committee, said a draft bill released this month establishes a foundation for a federal framework, while ...