The new stablecoin legislation draft in the United States aims to strip the SEC of its jurisdiction over stablecoins

ChainCatcher News, Republican members of the U.S. House of Representatives have introduced a new stablecoin legislative proposal that would strip the Securities and Exchange Commission (SEC) of its jurisdiction over payment stablecoins. The bill would transfer regulatory authority over stablecoins to federal and state banking and credit union regulators. Additionally, it would no longer involve algorithmic stablecoins or require research on CBDCs. (Source link)