🚨 UPDATE: Bipartisan consensus on US stablecoin legislation was reportedly close, as indicated by the chair of the House Financial Services Committee. However, negotiations were derailed, with the ranking Democrat stating that McHenry brought talks to a halt. The bill lacks support from both the Fed and the U.S. Treasury Department in its current form. (Source: CoinDesk)

🤔 Disagreements and lack of support from key stakeholders pose challenges to finding common ground on stablecoin regulation. The future of stablecoin legislation remains uncertain as policymakers navigate the complexities of the crypto space. #Stablecoin #Legislation #CryptoRegulation