# U.S. House Democrats Consider Stablecoin Bill

By [SBSBF](https://paragraph.com/@sbsbf) · 2023-05-13

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Democrats in the U.S. House of Representatives are considering a stablecoin bill, but their views differ significantly from those of Republicans, according to a person familiar with the matter. The proposal was first spearheaded last year by Democratic Rep. Maxine Waters and Republican Rep. Patrick McHenry. Waters said a few weeks ago that lawmakers need to create legislation on stablecoins from the ground up. In recent weeks, Republicans on the House Financial Services Committee have made progress on a new draft stablecoin bill, but Democrats have been frustrated by it, including Maxine Waters. She has complained publicly that the draft was done without Democrats and that lawmakers should start over.

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*Originally published on [SBSBF](https://paragraph.com/@sbsbf/u-s-house-democrats-consider-stablecoin-bill)*