The chairman of the U.S. House Financial Services Committee rejected the proposal for interest-bearing stablecoins by Coinbase CEO

ChainCatcher news, according to Beincrypto, U.S. House Financial Services Committee Chairman French Hill has rejected a proposal to allow interest payments on stablecoins, despite Coinbase CEO Brian Armstrong publicly calling for support of the policy just yesterday. Hill stated that there is still no bipartisan consensus in Congress on this issue. As a key figure in stablecoin regulation, Hill's swift response highlights that despite Armstrong's rising political influence, the crypto industry remains an emerging force in traditional legislative bodies.