PANews reported on September 24 that according to CoinDesk, Maxine Waters, a senior Democratic member of the U.S. House Financial Services Committee, called for a compromise on stablecoin legislation at a hearing. She discussed with Republican Chairman Patrick McHenry to complete the bill by the end of the year and said that time was running out. The two parties had previously negotiated on stablecoin regulation for several months, but had not yet reached an agreement.

In addition, SEC Chairman Gary Gensler was criticized by Republican lawmakers at the hearing for his regulation of the crypto industry, accusing him of pushing cryptocurrency policy through law enforcement, resulting in a lack of a clear regulatory framework for the industry.