Unlike a previous version of the bill, which was published on the committee’s website ahead of a hearing on stablecoins last week, the new version leaves out algorithmic stablecoins, though it does repeat clauses stating that an issuer can either be a subsidiary of a federally insured depository institution or a state or federally regulated nonbank company.
Source: https://www.coindesk.com/policy/2023/04/24/house-republicans-make-case-on-stablecoin-bill-after-democrats-called-for-do-over/?utm_medium=referral&utm_source=rss&utm_campaign=headlines