Key House Panel Delays Consideration of US Stablecoin Bill (1)

House lawmakers have delayed a markup of legislation to police stablecoins until September, according to multiple people familiar with the matter.

The House Financial Services Committee was aiming to consider the legislation as soon as this week, as part of a July 27 markup. A draft of the bill would allow the Federal Reserve to license non-bank stablecoin issuers and mandate 100% reserves in cash or high-quality liquid assets for stablecoins -- though changes are still possible as talks continue.

The plan is being negotiated between House Financial Services Chairwoman Maxine Waters, a Democrat from California, and Ranking Member ...