The news: Stablecoin legislation is being pursued by both Democrats and Republicans in Congress, per Axios.
- Rep. Maxine Waters (D-CA) released a discussion draft of stablecoin legislation this week.
- Sen. Bill Hagerty (R-TN) introduced a bill in the Senate last week, and Reps. French Hill (R-AR) and Bryan Hall (R-WI) released their own draft bills.