Republican lawmakers object to Fed’s proposed crypto, stablecoin rules

Three U.S. representatives expressed concerns on Aug. 28 regarding stablecoin and crypto rules recently put forward by the Federal Reserve.

Today’s objection was signed by three U.S. representatives: Patrick McHenry, Chairman of the House Financial Services Committee; French Hill, Chairman of the Committee on Financial Services Subcommittee on Digital Assets; and Bill Huizenga, Chairman of the Committee on Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion. All three representatives are members of the Republican party.