The U.S. House Financial Services Committee has shared an updated draft of the bill outlining proposed stablecoin legislation which gives more power to the Federal Reserve while also elimination clauses about exploring a digital dollar. The latest draft is significantly shorter than the previous version, and it taps the “Board of Governors of the Federal Reserve System” to be the primary regulator and author of the requirements for qualified stablecoin issuers. “The primary Federal payment stablecoin regulators may issue such orders and regulations as may be necessary to administer and carry out the requirements of ... (full story)