Stablecoin Bill on Track to Advance in House Committee

A key US House committee is expected to advance landmark stablecoin legislation, a priority of President Donald Trump and the crypto industry, according to two people familiar with the plans.

The Financial Services panel will consider the bill on April 2. The move comes as crypto’s clout in the US capitol has surged on bipartisan backing from key Democrats like Senator Kirsten Gillibrand of New York and record-setting campaign spending that helped defeat industry foes and elect allies.

Chairman French Hill of Arkansas said last week that a well-regulated stablecoin market would “strengthen the U.S. dollar’s dominance, modernize our ...