U.S. House lawmakers take a significant step in advancing stablecoin legislation despite lack of bipartisan support, leading to a stalemate attributed to White House objections.
The bill represents a milestone achievement in Congress. Contentious debates marked the markup of the stablecoin bill. 
On Thursday, U.S. House lawmakers took a significant step in advancing stablecoin legislation through Congress. However, the House Financial Services Committee pushed the bill forward for a potential floor vote without receiving bipartisan support. Chair Patrick McHenry (R-N.C.) attributed the lack of bipartisan backing to objections from the White House, leading to a stalemate.
#BREAKING: Chairman @PatrickMcHenry’s Clarity for Payment Stablecoins Act passes the Financial Services Committee with BIPARTISAN support.
After fifteen months of bipartisan collaboration, this landmark legislation is one step closer to becoming law. pic.twitter.com/vCiyqjyAAf
— Financial Services GOP (@FinancialCmt

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