๐๏ธ Financial Services Chair Patrick McHenry (๐ด-N.C.) and ranking member Rep. Maxine Waters (๐ต-Calif.) met with Senate Majority Leader Chuck Schumer ๐๏ธ Thursday to discuss their stablecoin legislation ๐ช, according to three aides granted anonymity ๐ต๏ธโโ๏ธ๐ต๏ธโโ๏ธ๐ต๏ธ.
They talked about adding the bill ๐ to the upcoming FAA reauthorization โ๏ธ along with cannabis banking legislation ๐ฟ, one aide noted. Two other aides mentioned that McHenry and Waters are still working on the final version of their stablecoin bill, which aims to regulate cryptocurrencies ๐ต๐ช tied to stable assets like the U.S. dollar, following a breakdown in bipartisan talks ๐ค last summer.
Sen. Cynthia Lummis (๐ด-Wyo.) mentioned earlier this week that combining these three measures was a possibility being considered ๐ฏ after aides and lobbyists suggested the FAA bill as a potential carrier for the stablecoin legislation.
For McHenry, passing stablecoin legislation is a key goal ๐ฏ before he leaves Congress at year’s end, while Senate Democrats including Banking Chair Sherrod Brown (๐ต-Ohio) are eager to advance cannabis banking policy ๐ฟ.
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