The financial US House service committee has passed a bill supported by the Republican Stablecoin Framework, which will now go to the floor of the house for a full vote.
The Committee passed Stablecoin’s transparency and responsibility for a better ledger economy, or a stable act, with a vote of 32-17 on April 2.
The bill will provide policies around payment stablecoins, a type of crypto token tied to a currency such as the US dollar, and aims to ensure information about their business and how they will return their tokens.
Related: The lawmaker says Trump wants to replace the US dollar with his stablecoin
Other stablecoin -related bills are also working through Congress, including the guide and establishment of the National Innovation for US Stablecoins (Genius) Act, which releases administration and reserve rules for the providers.
This is a story development, and further information will be added as it is available.
