According to BlockBeats, on September 24, The Block reported that Maxine Waters, a senior Democratic member of the U.S. House Financial Services Committee, expressed the hope to reach a “major agreement” on stablecoin legislation by the end of this year.

Waters emphasized that the new bill should prioritize consumer protection and strong federal regulation, while allowing multiple ways to create stablecoins, but the Federal Reserve needs to play a leading role.

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