SEC Remain Principle Stablecoin Roadblocks

Although there were still considerable party-line differences of opinion on stablecoin legislation, today’s HFSC Digital-Assets Subcommittee hearing suggests that remaining divides are narrowing, increasing the odds of a new federal-regulatory framework. However, this is not to say that HFSC Members will be able to overcome the most partisan differences – the role of the SEC and federal preemption – or that Sen. Brown (D-OH) will agree to yet another regulatory role for the Fed even if he does decide to advance a bill in this arena.