If stablecoin legislation were somehow able to pass this Congress, any final bill would likely draw heavily from three major proposals published to date. While major stablecoin proposals agree on high-level principles like establishing reserve, disclosure, and redemption policies, they diverge on specifics around who may issue stablecoins and roles for federal and state regulators. Whether these disagreements get resolved in the final months of the 118th Congress remains to be seen. Meanwhile, on the campaign trail, Vice President Kamala Harris's campaign unveiled a new “Opportunity Agenda for Black Men,” which includes, as one of five agenda items: “supporting a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected.” Later in the week, she clarified this agenda would ultimately apply to all Americans on a race-neutral basis.
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