According to Odaily Planet Daily, Maxine Waters, the leader of the Democratic members of the U.S. House Financial Services Committee, predicted that she and Chairman Patrick McHenry will soon reach an agreement on stablecoin regulatory legislation. In an interview, Waters said that they are striving to reach a stablecoin bill in the short term.

She added that she had discussed stablecoins with Senate Majority Leader Chuck Schumer and Senate Banking Chairman Sherrod Brown, and said the Federal Reserve, Treasury Department and the White House were all involved in drafting the bill. Waters said this is to ensure that investors and people are protected and must ensure that they have assets that support stablecoins. Federal regulation can give legitimacy to this asset class, which in turn can lead to wider adoption.