The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after PayPal announced the launch of its payment stablecoin. This follows the House Financial Services Committee passing the bipartisan Clarity for Payment Stablecoins Act, which identifies regulatory paths for approving and regulating stablecoin issuers while ensuring robust protections for consumers through the creation of a uniform federal floor for payment stablecoins. “This announcement is a clear signal that stablecoins—if issued under a clear regulatory framework—hold promise as a pillar of our 21st ... (full story)