"US House Introduces Bipartisan Stablecoin Bill and Blocks Chinese Ownership of Crypto Companies"

The US House Financial Services Committee has released the third draft of the stablecoin bill, which proposes the US Federal Reserve as the key regulator for issuing stablecoins and offers state regulators powers to oversee the companies issuing the tokens. The bill also proposes a two-year moratorium for collateralized stablecoins from the date of enactment. If approved, the bill would become the first example of crypto legislation in the United States.