The U.S. House of Representatives stablecoin hearing focuses on regulating stablecoin issuers by state or federal authorities

ChainCatcher news, according to Cointelegraph, at the May 18 hearing in the U.S. House of Representatives regarding stablecoins, the main focus was on two competing stablecoin bills, with state versus federal regulation being a key issue. The Republican bill would allow stablecoin issuers to choose the state in which they register without going through the Federal Reserve. The Democratic bill retains the opportunity for appropriate federal regulatory oversight. (source link)